Chinese Investment in Coal-Based Steel Mills Still Running Hot
- Think-tank CREA releases report on China’s steel industry
- Mills may be ‘stranded assets’ under carbon-neutral policy
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Chinese steelmakers received approvals from provincial authorities to invest about $100 billion in new coal-based mills over the past two-and-a-half years, according to the Centre for Research on Energy and Clean Air.
Emissions from the plants, if fully operated, would be equal to the total from the Netherlands, the independent think-tank on air pollution said in a report released Tuesday. The new mills risk becoming “stranded assets” as Beijing’s goal of carbon neutrality by 2060 will require the early retirement of such facilities, it said.