Business news from Ukraine


15 July , 2021  

The metallurgical industry will play a key role in achieving Ukraine’s carbon neutrality, according to representatives of the largest Ukrainian metallurgical companies speaking during the international forum “Decarbonization of the Steel Industry: a Challenge for Ukraine” taking place in Kyiv.
According to a press release from GMK Center, the ambitious plans of the EU and the United States to achieve carbon neutrality by 2050 are putting pressure on Ukrainian metallurgical companies. To compete successfully on foreign markets, Ukrainian producers also need to have CO2 reduction targets and decarbonization strategies.
“Now Metinvest is developing a detailed roadmap to reduce CO2 emissions. We are very careful in working out each step that will eventually lead our production to carbon neutrality, because such a large-scale transformation should not harm the sustainability of our business. We hope to conclude partnerships today, which will allow us to follow the path of decarbonization,” CEO of Metinvest Group Yuriy Ryzhenkov said during the event.
During the forum, Metinvest signed two memorandums of cooperation for the implementation of joint projects to reduce greenhouse gas emissions. One of them was signed with Primetals Technologies – an international company providing a full range of technologies, products and services for the metallurgical industry, the other – with K1-MET – a leading Austrian research center in metallurgy.
The press release notes that Ukraine actively declares its intention to follow the direction of decarbonization. In January 2020, the country presented the Green Energy Transition Concept, which sets a goal to achieve a carbon neutral economy by 2070.
In April 2021, the government presented the draft of the second Nationally Determined Contribution to the Paris agreement. It assumes that Ukraine by 2030 will reduce CO2 emissions by 65% compared to 1990, in particular industrial enterprises – by 61%.

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