BlueScope eyes net zero greenhouse emissions

BLUESCOPE managing director and chief executive Mark Vassella says there is an “incredible incentive” for Australia’s three major iron ore miners to work out a solution to decarbonise the steelmaking process.

While technology, energy, policy and cost challenges remain in the foreseeable future, Australia could benefit from increased collaboration towards long-term changes, Mr Vassella said in a briefing on

Monday. BlueScope plans to cut carbon emissions to 12 per cent by 2030, compared to 2018 levels, and progress to net zero greenhouse gas emissions across all operations by 2050. “I can see enormous sense in a green iron product being produced at the source of iron ore, at the source of renewable energy or lower cost energy, and that value-added product being sold to the steelmakers and customers that the iron ore companies have,” he said.

BlueScope shares fell 5 per cent to $21.85 on Monday.