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German Economy Minister Robert Habeck announced at the National Steel Industry Summit held in Duisburg that the German S355JR steel government will invest billions of euros to transform one-third of the steel industry into a green industry by 2030, ensuring the annual production of 12 million tons of environmentally friendly steel. Politicians and union members unanimously support the protection and environmental transformation of this steel industry.
The steel industry is key to industries such as automobiles and mechanical engineering, and also provides tens of thousands of high paying jobs in Germany S355JR steel. However, the greenhouse gases generated during the production process account for about 7% of Germany's total emissions. The solution is to introduce new technologies such as renewable energy and hydrogen.
The German steel industry is also facing pressure from high energy costs and competition from Asian producers. Gunnar Grebler, the president of the Steel Federation, pointed out that the steel industry should reform from three aspects: creating a green market, controlling energy S355JR steel prices, and preventing unfair competition.