SteelAsia said it aims to produce 3.5 million tons of green steel per year starting 2028, avoiding the production of 7 million tons of carbon dioxide (CO2) emissions annually and their equivalent carbon capture of 200 million trees.
Benjamin Yao, chairman and chief executive officer of SteelAsia said in a statement on Tuesday the company’s plant in Calaca, Batangas has been certified as one of the greenest in the world in an independent report by DNV (Det Norske Veritas), a leading global assessment and certifying organization.
SteelAsia said the report found the company’s plant to have nearly 90 percent lower carbon footprint than traditional steelmaking, generating a mere 0.28 tons of CO2 per ton of steel produced compared to the 2.32 tons of CO2 per ton average generated by conventional steelmaking.
The mill, which has been operating since 2008, combines recycling technologies with renewable energy which are vital components in determining green steel.
Replacing imports
Yao said SteelAsia also intends to replace importation with locally produced green steel products.
In 2024, SteelAsia projected to produce 400,000 tons of green steel but did not disclose its 2023 output.
It said when all its expansion plans are already operational, production will increase to 3.5 million tons annually.
Yao said SteelAsia’s green steel expansion will support the Philippines’ national commitment to the 2015 Paris Agreement, a United Nations Framework Convention on Climate Change (UNFCCC) initiative targeting a global temperature increase of less than 2°C by 2050.
SteelAsia is the Philippines’ flagship steel company with steel mills operating in Luzon, Visayas and Mindanao with more plants in the pipeline to produce new products that up to now are still imported.
