Browsing by Author "Govender, Prebashni"

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    Investigation into the South African steel market’s preparedness for decarbonization and the purchase of green steel
    (University of the Witwatersrand, Johannesburg, 2024) Govender, Prebashni; Tabane, Lehlohonolo
    The study discusses a South African steel company’s effort to integrate sustainability into its business model and strategic planning in response to the Paris Agreement and the global steel industry’s goal of achieving net-zero emissions by 2050. This objective may be attained by: pursuing circular economy and enhancing steel recycling activities via an electric arc furnace coupled with renewable energy sources; retrofitting existing blast furnaces followed with the deployment of carbon capture and usage (CCU) technologies, and the expansion of hydrogen-based direct reduced iron (DRI) production alongside the utilization of renewable energy sources. However, there are risks that could hinder these goals, such as the continuous load shedding crisis, unfair trade policies and application of economic instruments, supply chain disruptions, and inadequate support for renewable energy. The industry faces financial and environmental pressures, and there is a need for government intervention through fair policies and incentives. Concerns are raised about the government's capabilities and priorities in implementing decarbonization policies and navigating the energy transition. Collaboration and funding opportunities are crucial for sustainability. The integration of carbon capture usage and storage technology is seen as risky by some experts, and more research and development is needed. This is concerning considering the net-zero timeline. Currently, there is little demand from industries to purchase green steel, emphasizing the need for product differentiation, improved marketing strategies and consumer awareness. Policymakers should reform policies to align with the net-zero emissions target to prevent the fall of the steel industry and the impact on the South African economy