Japanese steelmaker JFE Steel Corporation will invest JPY 100 billion ($955 million) to install equipment at its mills to reduce carbon emissions by 20 percent by the year 2030, according to Nikkei Asian.
Accordingly, the company will replace its blast furnaces with updated versions that are more energy efficient, to use more ferrous scrap as raw material instead of iron ore which releases carbon dioxide.
Meanwhile, Nippon Steel and ArcelorMittal among others will also invest in cutting carbon emissions in the next decade, as SteelOrbis previously reported.
