Chinese steel giant China Baowu Group aims to become carbon neutral by 2050, according to Reuters.
The company plans to decrease its carbon emissions by 30 percent by 2035 after bringing it to a peak in 2023.
China Baowu Group will increase its use of renewable energies and will develop the hydrogen sector, as SteelOrbis understands. The company will also control its overall energy consumption.
China set out its climate goals last year, with its steel industry’s carbon emissions accounting for 15 percent of the country’s total emissions. The country will strive to achieve carbon neutrality by 2060, as SteelOrbis previously reported.