Global steel sector lags on green transition

SINGAPORE, May 20 (Reuters): As much as 303 million metric tons per year of new high-emitting blast furnace capacity is under development, especially in major steel producers India and China, new research showed, suggesting it will still make up the vast majority of productionby 2030.

Steel production is responsible for about 11 per cent of total climate warming greenhouse gas emissions, with global steel demand set to exceed 2 billion tons by 2030, the US-based Global Energy Monitor think tank said.

The think tank warned that the steps taken by India, which accounts for 57 per cent of all new coal-based blast furnace capacity under development, will be pivotal in "greening one of the world's most

polluting industries".