By Dominic Chopping
Danish container-shipping company A.P. Moeller-Maersk AS said Thursday that it has joined SteelZero, a global initiative bringing organizations together to accelerate the transition to a net zero steel industry.
"Steel is an integral part of our value chain. We use it in our ships, containers, terminals, and warehouses and therefore, it is a pivotal part of our decarbonisation efforts," Henriette Hallberg Thygesen, chief executive of Fleet & Strategic Brands at Maersk, said.
"The steel industry is one of the largest emitters of CO2...it is imperative to find a low-carbon process for primary steelmaking to adhere to the 1.5°C pathway in this hard-to-abate industry."
Maersk said recycling steel from end-of-life ships also offers an opportunity to reduce its emissions by driving circularity in the steel industry.
A significant number of the more than 700 vessels operated by Maersk are expected to be recycled in the next decade, it added.
By joining SteelZero, Maersk said it will collaborate with other industry organizations committed to climate-aligned steel procurement and progress in developing a policy framework toward responsible production and sourcing of steel.
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(END) Dow Jones Newswires
April 07, 2022 07:24 ET (11:24 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.