Nordic Companies Can Triple Green Steel Demand, Report Reveals
The European steel sector accounts for approximately 5% of EU greenhouse gas emissions. A report indicates that existing practices could potentially triple the demand for near-zero emissions steel among major Nordic steel-buying firms, currently averaging a mere 23% alignment with climate targets.
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A recent report highlights that Nordic steel-buying companies could significantly enhance demand for green steel, with potential scores rising from an average of 23% to 83% by implementing existing best practices. Machinery firms, particularly Swedish SKF, lead the way with a 65% score, while automotive and construction sectors lag behind, with scores below 24%.
Denmark and Sweden are positioned to capitalize on the emerging fossil-free steel market, scoring 29% and 28% respectively, while Finland and Norway remain far behind. The report emphasizes that public procurement alone cannot stimulate lead markets, indicating a need for stronger incentives for private-sector demand to drive climate goals.
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