Environmentalists: Steel Bailout Deal Should Come With Climate Conditions | OilPrice.com

- Jan 31, 2023, 1:30 PM CST

Green Alliance calculated that this shift would eliminate 4.9m tonnes of carbon dioxide emissions per year – the equivalent to the annual emissions of 2.4m petrol cars, or removing one in every 14 cars off UK roads. Other green groups backed Green Alliance’s calls for environmental targets to be built into the bailout packages.that the steel companies “cannot be economically competitive in the 21st century if it isn’t carbon competitive as well.”

“In 2021, our analysis found that while the EU had 23 green steel plants planned or underway, the UK had none, and it’s hard to see that much has changed since then,” Ralston said. “The US is investing heavily in its industry through the Inflation Reduction Act and the EU is expected to follow suit quickly. Without matching this, as the CBI has warned, we’re at risk of missing out on this global momentum, and the exports that come with it.

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