Tata Steel Europe to implement carbon surcharge for contracts in UK and Europe

Tuesday, 13 April 2021 15:03:00 (GMT+3)   |   Istanbul
       

Tata Steel Europe, subsidiary of Indian steel producer Tata Steel, plans to implement a carbon surcharge to all new sales of steel products in Europe and the UK to compensate for the cost of carbon allowances, as SteelOrbis has learned. The carbon surcharge will amount to €12/mt. In April this year, the EU carbon allowances exceeded €40 per tonne. 

This move is new for the European steel market and in line with the company’s aim to reduce its carbon emissions by 40 percent by 2030, and to be carbon-neutral by 2050.

According to the company’s annual report, Tata Steel Europe’s carbon emissions per tonne of crude steel were 1.98 tonne in 2019-20, while the cost of the emissions is nearly €12/mt, as SteelOrbis understands.


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