August 2022
Chinese steelmakers will be required to reach peak carbon emissions by 2030, the authorities announced in February 2022. The joint industry guideline was released by China’s Ministry of Industry and Information Technology (MIIT), the National Development and Reform Commission (NDRC), and the Ministry of Ecology and Environment (MEE).

However, caps for energy intensity and total energy consumption have not yet been established. A detailed roadmap is expected to be released later this year. The plan is part of China’s goal to peak carbon emissions by 2030 and reach net-zero by 2060.

The country’s decarbonisation strategy could constrain steel supply. MIIT has suspended the further expansion of steel capacity in the 2021-2025 period. The government agency has also asked steel mills to reduce crude steel output in 2022, citing the reduction as the most effective way to constrain carbon emissions.