Tokyo Steel said that as the world began to actively pursue a carbon neutral plan, the company decided to revise its Tokyo Steel EcoVision 2050.
Tokyo Steel's original goal was to reduce CO2 emissions by 80% by 2050, which was announced in 2017. Now the firm has revised it to 100%. As a result, it would increase the use of an electric furnace for processing scrap iron, reducing CO2 emissions by promoting renewable energy sources.
The previous target was to reduce CO2 emissions by 40% by 2030 compared to 2003 and by 80% in 2050. The updated version projected a 60% reduction in 2030 and 100% in 2050, in line with the original schedule.
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