Vietnam's steel industry plans to become carbon neutral by 2050

The Vietnam Iron and Steel Association plans to become carbon neutral by 2050 and begin the transition to green methods of steel pipe production.

On September 15, "Vietnam News" quoted Nghiem Xuan Da, chairman of the Vietnam Iron and Steel Association, as saying that some steel enterprises in Vietnam have begun to use waste heat from factories to generate electricity, aiming to reduce the negative impact on the environment and improve the efficiency of clean energy use. Vietnam's steel industry plans to achieve its carbon neutrality goal by promoting digital transformation, technological innovation and other initiatives.

In fact, the Vietnamese government has already developed a series of "carbon neutral programs" and set targets. According to the plan, by 2030, Vietnam will reduce the level of greenhouse gas emissions by 25 to 27 percent from the current level. Companies in the country need to take steps to reduce their carbon emissions and find "carbon neutral solutions." At the 26th United Nations Climate Change Conference in 2021, Vietnamese Prime Minister Pham Minh Jung also pledged that Vietnam would achieve "net zero emissions" by 2050.

Vietnam's crude steel production ranks 13th in the world, and steel product consumption is in a leading position in the ASEAN region. The steel sector accounts for 7-9% of Vietnam's total carbon emissions.

The director of the Vietnam Energy Conservation Research and Development Center said that as the average level of greenhouse gas emissions in the country's steel industry is about 23 percent higher than the world average, Vietnamese steel enterprises face challenges in carbon reduction.

According to the Vietnam Iron and Steel Association, Vietnam exported about 8.4 million tons of steel products worth nearly $8 billion in 2022.以上翻译结果来自有道神经网络翻译