Chinese steelmakers are intensifying efforts to shift towards ultra-low-emission production as the country pushes for greener economic growth.
As of the end of February, around 620 million tonnes of crude steel capacities of 229 companies have completed or are in the process of ultra-low-emission upgrading, according to He Wenbo, executive director of the China Iron and Steel Industry Association (CISA).
For the steel industry to fully realize ultra-low emissions, an investment of about 260 billion yuan (about 40.7 billion U.S. dollars) will be required, which would increase operating costs by more than 50 billion yuan each year, He said.
By vigorously promoting industrial structure adjustment, energy structure optimization, ultra-low emission and low-carbon transformation, China's steel industry in recent years has seen remarkable progress in green development.
According to CISA data, major iron and steel enterprises had reduced their comprehensive energy consumption per tonne of steel by 58 percent from 2015 to 2020.
Making the steel and other energy-consuming industries greener is an important part of China's broader efforts to cut pollution and tackle climate change.
China previously announced that it would strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.
China Baowu Steel Group Corporation Limited (China Baowu), the world's largest steel conglomerate, in January announced its aim to have carbon dioxide emissions peak before 2023, reduce carbon dioxide emissions by 30 percent before 2035, and achieve carbon neutrality before 2050.
China's crude steel output came in at 1.07 billion tonnes in 2020, official data showed.
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