The Company believes a dialogue between the business and the government to be essential for decarbonization of Ukraine’s economy
Metinvest, an international mining and metals group, will be a general partner of the international forum on “Decarbonization of the steel industry: a challenge for Ukraine” that will take place on 14 July 2021 in a combined format (offline and online), according to the Company’s website.
“Throughout its history, the Metinvest Group has been seeking to reduce the negative impact of its production on the environment. Over the past 10 years, Metinvest has invested more than $3.4 billion in environmental initiatives. The Group intends to further reduce its carbon footprint to combat climate change,” reads the statement.
However, achieving carbon neutrality is going to be a big challenge for Ukrainian companies, as it involves a complete change in production processes and supply chains.
Moreover, the technologies necessary to make the country’s economy carbon-free are only being developed. Drafting a detailed roadmap for the transition to green industry requires cooperation between producers, engineering companies, consumers, suppliers and the government. The forum is intended to establish cooperation between all the stakeholders in the process of decarbonization of the steel industry, and to improve the quality of the dialogue in this area.
“Ukraine’s industrial sector is facing a serious challenge that will affect the life of the entire country. Decarbonization may completely change both production and technologies. The sooner businesses and the government develop a common approach to achieving carbon neutrality, the easier this process will be for the Ukrainian economy,” says the Metinvest Group’s CEO, Yuriy Ryzhenkov.
The Metinvest Group also decided to contribute to seeking possible ways to decarbonize Ukraine’s steel industry and economy in general, and became a sponsor of a study on “Decarbonization of the steel industry: a challenge for the coming decades”. The results of the study will be presented on 14 July 2021 at the forum organized by GMK Center.
Discussions during the Forum will focus on the matters relating to decarbonization of steel production, available and emerging techniques, companies’ targets for cutting CO2 emissions and relationships with the government in this area. The attendees will include representatives of the mining & metals companies of Ukraine, international engineering, consulting and R&D companies, and also, members of the Cabinet of Ministers, MPs, representatives of business associations and industry experts.
You can read more about the program and forum participants here.