“We are serious about playing our role in meeting the decarbonization challenge,” BlueScope managing director and chief executive Mark Vassella said. 
 
The company announced the goal as part of its fiscal 2021 earnings report. It said more details are to follow in a later sustainability report but, in the meantime, it is allocating AU$150 million over the next five years to near-term climate action projects.  
 
“This immediate capital allocation will fund our technology plan that seeks to optimize current operating assets and prepare for emerging and breakthrough technologies,” Vassella said.   
 
“Immediately, we’ll focus on production efficiencies such as increased usage of scrap, indigenous gases and renewable energy. We are actively investigating the use of biochar as a replacement for a proportion of pulverized coal injection into the blast furnace, and are seeking government co-funding for this and other pilot projects, including a hydrogen electrolyzer to trial hydrogen injection in the blast furnace.” 
 
BlueScope will have a decision to make on the future of its Port Kembla furnaces. The No. 5 blast furnace is expected to reach the end of its current production campaign sometime between 2026 and 2030, and for now, it is leaning toward a reline of the currently mothballed No. 6 furnace to replace it.  
 
The company said pre-feasibility assessments are well underway.  
 
“This pre-feasibility work aligns with BlueScope’s climate strategy and technology pathway. As part of the reline assessment, latest technologies available to reduce greenhouse gas emissions intensity will be evaluated as an integral part of the project,” the company said.