Fortum’s Post

💡 Level playing field for low-emissions steel Nordic steelmakers are already investing heavily in decarbonization. These are not distant aspirations — they are real projects happening now: ✅ Outokumpu was the first in the world to introduce near-zero emissions stainless steel. ✅ Stegra is building Europe’s first greenfield steel plant in 50 years. ✅ SSAB is currently investing €5 billion to transform its Swedish steel production system, which will eliminate about 10% of Sweden’s CO2 emissions. 🇪🇺 Yesterday in Brussels, we hosted a roundtable with decision-makers and steel ecosystem representatives on how to ensure a fair level playing field for low-emissions steel. Our message was simple: Europe must stay the course on climate action. Key actions we underlined: 📍 Agree on the 2040 target of –90% emission reductions 📍 Implement the Fit-for-55 package as agreed, including the phase-out of free allocations under the EU ETS 📍 Roll out the Carbon Border Adjustment Mechanism (CBAM) on time in 2026 to protect European steelmakers The European steel value chain is operating in a volatile global context — marked by geopolitical turbulence, trade disputes, competitiveness challenges, and the urgent need to decarbonize. All of this links directly to Europe’s resilience, security, and defense where steel is clearly a strategic sector. We firmly believe that resilience, competitiveness, and decarbonization must be addressed together. And this is exactly what Nordic companies are already investing in. 🙏 A big thank you to Outokumpu, Stegra, Fortum, We Mean Business Coalition, and to Ola Hansén, Heidi Peltonen, Päivi Allenius, Merja Paavola, Henrique Laitenberger, and Santeri Palomäki for the excellent contributions. #nearzeroemissionsteel #levelplayingfield #nordicleadership

Speaking in Brussels, SteelWatch Executive Director, Caroline Ashley, stressed that Europe’s commitment to decarbonising steel is not only vital at home — it also sets the tone for global markets. As countries design their own emissions trading systems, EU leadership on carbon pricing will help drive #ClimateAction across the world. Watch the video👇 📽️Video footage source: Euractiv and Low Emission Steel Standard (LESS) #GreenSteel #CleanSteel #SteelDecarbonisation #LESS #GreenIndustry #AutomotiveIndustry

The European Commission has set out a proposal aimed at shielding the EU steel industry from the ongoing impacts of global overcapacity. Read more ⬇️ https://lnkd.in/eJwezDsT

EU steel proposal seeks stability amid global overcapacity The European Commission has set out a proposal aimed at shielding the EU steel industry from the ongoing impacts of global overcapacity. https://lnkd.in/eEXvbzyC

☝️ Every year, the world produces 1.9 billion tons of steel – more than 200 kg for every person on the planet. Often called the queen of materials, steel is the backbone of modern life – from cars and railways to bridges, wind turbines, skyscrapers... And in Europe, its future is at a crossroad. Our colleague Jiří Šumbera, Chief Analyst at Sev.en GI, joined Vendula Pokorná at Investicniweb.cz, a prominent Czech finance and business outlet, to discuss the future of the steel industry. 💡The key takeaway? While China makes half of the world’s steel, Europe is the second-largest market, consuming about 160 million tons a year. ➡️ Yet more than 55% of Europe’s steel still comes from traditional blast furnaces, one of the most carbon-intensive methods. But shifting to green steel from scrap could give Europe a competitive advantage. 💬 “Blast furnaces have a 15–20 year investment cycle. It’s already clear new ones won’t be built. In Europe, green steel is the future,” noted Jiří. He also emphasized Europe’s untapped potential: 💬 “There is a surplus of scrap metal on the continent. Instead of exporting it, we should recycle and turn it into green steel at home. That’s where Europe can gain a real edge.” This is exactly the path taken by our 7 Steel Nordic and 7 Steel UK. Using electric arc furnace technology and relying on recycled scrap metal, they cut the carbon footprint of steelmaking by 80% while actively supporting the circular economy. ♻️

Happy to share great news! ✨ Today construction of SSAB's new steel mill in Luleå, Sweden, started with the Minister for Energy, Business and Industry and Deputy Prime Minister Ebba Busch and SSAB's CEO Johnny Sjöström participating in a groundbreaking ceremony. "We are building the world's most electrified steel mill that combines cutting-edge technology in a unique way. It is an investment in both competitiveness and the climate. With the new technology, we get lower costs, shorter lead times and a better ability to handle variations in demand. When we close the current production, we will largely eliminate our carbon dioxide emissions in Luleå," says Johnny Sjöström. The new mill strengthens SSAB’s long-term competitiveness and is expected to reduce Sweden's total carbon dioxide emissions by seven percent. 🌱 Read more on our press release ➡️ https://lnkd.in/dq4HuYJR #SSABLuleå #SteelMill #GroundBreaking

🏗️ A milestone for Europe’s clean industrial transition: today, SSAB CEO Johnny Sjöström and Deputy Prime Minister Ebba Busch broke ground on a €4.5bn fossil-free #steel project in Luleå 🇸🇪. The new steel mill is expected to reduce Sweden's total CO2 emissions by 7%. But this is about even more than protecting our climate. It's about: 🔹 Innovation & technological leadership 🔹 Economic resilience & strategic autonomy 🔹 Transforming Europe’s industrial model 💬 "We are very proud of our members’ commitment on climate action. This is a historic moment for the European steel industry and the EU’s transition," said EUROFER's Director General, Axel Eggert, who traveled to the site for the occasion. "We have high hopes that European Commission’s Steel and Metals Action Plan (#SMAP) implementation will shield this transformative investment and enable the investment elsewhere. The new steel trade measure expected in two weeks is the first step to demonstrate that the EU is moving in the right direction: putting its words into action when it comes to protecting and promoting the strategic EU steel industry." 👏 Congratulations to SSAB and everyone involved in this project. You make Europe #StrongerWithEUSteel.

This is the start of a new era in Swedish industry - a historic milestone in the transition to fossil-free steel production!🌱🌎

“Don’t stop here. There is so much more now to be done.” Speaking in Brussels, our Executive Director argued that agreeing standards for decarbonised steel is just the start. Now it’s time for real action, so that blast furnace-based steelmaking is not just trimming some of the hefty emissions, but transforms to near-zero. This week's announcement reinforcing trade protection for EU steelmakers makes this message all the stronger: the industry is getting the protection it demanded. So now is the time to get on and invest in decarbonised production. 📽️Watch our Executive Director speaking at the launch of LESS standards last week.👇 #GreenSteel #SteelDecarbonisation #ClimateAction #LESS #GreenIndustry #AutomotiveIndustry

💡EXPERT Q&A 💡 “For global steel decarbonization to truly succeed, it has to start in Asia.” - Heather Lee, Solutions for Our Climate (SFOC) At the Pohang Knowledge Exchange on low-carbon steel, co-organized by UNIDO’s Net Zero Partnership for Industrial Decarbonization, the Global Matchmaking Programme, and partners from Korea’s government and local authorities, Heather Lee of Solutions for Our Climate (SFOC) led breakout discussions on mature production and demand markets for steel. Heather emphasized that while Europe has often led the conversation, countries like Korea, Japan, China, and India hold the key to truly global decarbonization. With around 80% of steel production in Korea and Japan still coal-based, accelerating the shift toward hydrogen-based steelmaking and electric arc furnaces (EAFs) is critical. She noted that each region’s context is unique with Asia’s industrial realities, policy frameworks, and energy costs shaping different pathways to low-carbon steel. Read the full Q&A: https://lnkd.in/gqJEzQie #SteelDecarbonization #GreenSteel #ClimateAction