To make the types of gains the steel industry has demonstrated in the past in CO2 reduction, the industry is undertaking long-range, high risk research and development into new steelmaking processes whose designs emit much less CO2. This includes using different and greener fuels and/or developing carbon capture and sequestration technologies. Since 1990, the North American steel industry reduced the CO2 intensity per ton of steel produced by 33 percent and energy intensity 28 percent as a result of industry's voluntary investments in R&D and resulting new technology.
Today, the American steel industry operates with the lowest energy consumption per ton of steel produced in the world. Efforts to achieve incremental improvements in energy use and CO2 emission reductions will continue, however , in order to make major reductions in future energy/CO2 reductions, new methods of making steel will require completely fresh and innovative thinking.
Demonstrating that it will be part of the solution, the American steel industry is investing in the CO2 Breakthrough Program, an international effort to meet the climate change challenge.
Some of the key parameters in this calculation are the following:
The following are not included: