ASIATODAY.ID, CIKARANG BARAT – PT Gunung Raja Paksi Tbk (GRP), one of Indonesia’s leading integrated steel companies, proudly announces its active participation in the Near-Zero Steel 2030 initiative.
This groundbreaking initiative, sponsored by the First Movers Coalition (FMC) of the World Economic Forum, aims to accelerate the development and commercialization of innovative, low-emission technologies within the global steel sector.
Steel, as one of the most crucial materials for construction, infrastructure, machinery, vehicles, and clean energy technologies, plays a vital role in supporting sustainable development. The Mission Possible Partnership (MPP) projects a 30% increase in steel demand by 2050, underlining the urgency for the steel industry to adopt eco-friendly practices.
“At GRP, we understand the importance of fostering innovation and collaboration to address the environmental challenges facing the steel industry. By participating in the Near-Zero Steel 2030 initiative, we aim to be at the forefront of transformative change, driving the adoption of cleaner and more sustainable steel production methods,” says Kelvin Fu, GRP’s Advisor, Wednesday, January 17 2024.
Fedaus, GRP’s President Director, also emphasizes the company’s dedication to sustainability by commenting on the company’s participation, “The Near-Zero Steel 2030 initiative aligns with our commitment to sustainable and responsible business practices. We recognize the pivotal role steel plays in various industries and believe that by actively participating in this initiative, we can contribute to a more sustainable future.”
The First Movers Coalition, comprised of companies leveraging their purchasing power to drive early markets for clean technologies, is spearheading the Near-Zero Steel 2030 initiative. This initiative consists of three interconnected challenges aimed at decarbonizing the steel industry.
GRP actively participates in the Near-Zero Steel Supply Challenge, seeking to identify and connect with progressive steel manufacturers globally that are committed to producing near-zero emissions steel. The challenge addresses impediments to scaling up near-zero steel supply and seeks potential solutions to eliminate them.
Upon identification of these steel manufacturers, they will be linked with steel purchasers through the Near-Zero Demand Challenge, fostering formalized offtake agreements to secure future supply. Simultaneously, enabling technology partners will be connected via the Near-Zero Enabling Technology Challenge, aiming to provide the necessary innovations for near-zero emissions steel production globally.
This initiative not only gathers global steel companies dedicated to reducing emissions but also sends a powerful demand signal to the industry, incentivizing new collaborations between low-emissions steel suppliers and steel companies. This marks a pivotal step towards shifting away from coal-intensive steel production, reducing reliance on fossil fuels, and advancing the transition to green hydrogen and renewable steelmaking to meet the 1.5°C target.
As a result of its active participation, GRP will be featured in a short overview of submissions during the 54th Annual Meeting of the World Economic Forum in Davos, Switzerland, from January 15-19, 2024. The ongoing challenge promises more publicly amplified communication of its outcomes upon its conclusion, showcasing the commitment of GRP and other industry leaders to a sustainable future. (AT Network)
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