Who Will Buy Green Steel? Volvo, for One.
06/01/2022 - Volvo’s automaking division has joined an initiative whose goal is to increase demand for fossil-fuel-free steel and speed up the steel industry’s decarbonization efforts.
Volvo said in an announcement that it is the first automaker to sign on to the SteelZero initiative, which is organized in part by the ResponsibleSteel standards and certification group.
In joining, Volvo said it is committing itself to meeting green steel sourcing requirements by 2030. By 2050, all of the steel it uses will have to be carbon neutral, it said.
“We are pleased to join the SteelZero initiative and support its ambitions to transform the steel industry. By signaling our demand for responsibly sourced low- and zero-carbon steel, we aim to help drive an increased supply to our sector,” said Kerstin Enochsson, Volvo Cars’ chief procurement officer.
