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China’s carbon neutral steel industry responds to EU CBAM external market challenges

Chinas iron and steel industry for national rejuvenation to do in the field, walk in the forefront, after a whole generation of hard work, has long reached the worlds first, supporting Chinas rapid economic and social development. In the face of a century of unprecedented changes, the iron and steel industry to face up to the domestic overcapacity, low small scattered disorderly competition and other development difficulties, market-oriented legal system of joint restructuring, to enhance industrial concentration, promote the green low-carbon high-quality transformation and development, and firm conviction, and strive to go out.

  With the EU CBAM Carbon Border Adjustment Mechanism (CBAM) coming into effect, Chinas iron and steel industry going out to face the challenges of the external market. CBAM will start data declaration from October 2023, implemented in 2026, and fully operational in 2034. The reform of the EU ETS, adopted at the same time as the CBAM, will progressively reduce free allowances, and GHG emissions from covered sectors should be reduced by 62% by 2030 compared to 2005.The first sectors to be included in the CBAM include power, steel, cement, fertilisers, aluminium and hydrogen. During the transition period, only the reporting obligation is required to submit the carbon emission data of imported products annually, and there is no need to purchase EU ETS to fulfil the clearing obligation; the carbon emission measurement and accounting of the three industries of cement, electric power and fertilizer include both direct and indirect emissions; the carbon emission of the three industries of iron and steel, aluminium and hydrogen is currently tentatively set to measure and account for the direct emission only. Chinas general commodities exported to Europe, including new energy vehicles, photovoltaic modules, etc., are not under the direct declaration control of CBAM at the initial stage.

  In order to cope with the possible trade impact of the EU CBAM on Chinas products in the relevant industries, Carbon Neutral Shenzhen has successfully developed the "Carbon Neutral" brand of industrial biogas-biochar, "Carbon Neutral Steel", "Carbon Neutral Aluminium Oxide", "Carbon Neutral Biochar" and "Carbon Neutral Alumina" in recent years. ", "Carbon Neutral Calcium Carbonate (new chemical material)", "Carbon Neutral Biochar Fertiliser" and a variety of products based on biomass gasification - carbonisation negative carbon emission technology, and apply for Carbon Neutral series of industrial products patents, covering the main industries and products affected by CBAM. We have also applied for patents for carbon neutral series of industrial products, covering major industries and product fields affected by CBAM, and proactively responded to the external market challenges of the EU CBAM with substantial technological progress of the Chinese industry. For example, "Carbon Neutral Steel carbonneutral®" adopts the "Carbon Neutral" brand of biogas-biochar ecosystem engineering technology, with the help of green power, the use of all-scrap steel electric furnace short process output of the worlds first international life cycle standard carbon neutral steel, carbon emissions intensity is lower than the EU level, responsible for the production of carbon neutral steel. The carbon emission intensity is lower than that of the European Union, and the company participates in fair competition in the international market in a responsible manner.

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