New green steel premium to aid decarbonization drive in Asia; steelmakers to target EU

Asia is now shaping up to join the growing decarbonization movement in the steel industry, with steelmakers in the region aiming to be competitive in markets subject to the European Union's Carbon Border Adjustment Mechanism (CBAM) by demonstrating their commitment to environmental and social governance (ESG).

CBAM is a tariff on carbon-intensive products such as steel and extends carbon pricing to imports coming into the European Union. Japan and South Korea are the prime movers in the...


Paul Lim

September 07, 2023

11:35 GMT