ArcelorMittal’s transition plan, unveiled in 2020, aimed to implement hydrogen-powered Direct Reduced Iron (DRI) and Electric Arc Furnace (EAF) technologies to cut emissions. The company said this week that further investment was contingent on favourable policy, technological progress and market conditions.
ArcelorMittal’s chief executive, Aditya Mittal, acknowledged governmental support but emphasized that further measures are essential. “The scale of the challenge requires further policy initiatives to unlock increased investment,” Mittal said in a statement. He also underscored the need for using natural gas as a transitional fuel until green hydrogen becomes commercially viable.
The company pointed to “significant weaknesses” in the EU’s planned carbon border adjustment mechanism, designed to tax imported carbon-intensive goods, and called for stronger trade protections against cheaper Chinese steel…
