Ukraine's largest steelmaker Metinvest needs to invest $20-30 billion in coming years to replace four coal-fired blast furnaces with new equipment to cut carbon emissions, its chief executive said.
Privately held Metinvest BV aims to cut greenhouse gas emissions by 15% by 2030 and by 40% after another 10 years, CEO Yuriy Ryzhenkov told Reuters in an interview on Wednesday.
Investors focused on climate change have said emissions from the industry must fall 91% by 2050 to meet a net zero scenario laid out by the International Energy Agency. "We're cautiously optimistic, obviously this year is not going to be as great as 2021," Ryzhenkov said.
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