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As global pressure to reduce carbon emissions intensifies, the steel industry is confronted with the imperative of achieving carbon neutrality. Since the signing of the Paris Agreement in 2016, numerous countries worldwide have advocated for a shift towards a low-carbon economy, leading to the expansion of carbon-related regulations such as carbon border tariffs and carbon taxes. Given its significant emissions footprint, the steel industry is directly impacted by these regulations, prompting many countries to explore emissions reduction strategies and subsidise low-carbon transition of the industry. 

 

For both Japan and South Korea, the steel industry is a major domestic industrial and economic sector, and a dominant player on the world stage. In 2022, Japan and South Korea ranked as the world’s 3rd and 6th largest steel-producing countries, with 89.2 million tones and 65.8 million tons of crude steel output, respectively, collectively accounting for 8.2% share of global production 

 

On Thursday, June 13, 2024, Transition Asia and Solutions for Our Climate (SFOC) are pleased to hold a special industry webinar to discuss “Financing Solutions for Steel Decarbonisation in East Asia – Unlocking Subsidies in South Korea and Japan”. To start, we will be hearing from Yeongmin Kweon, Steel Analyst at SFOC, who will present on the ‘Global Trends in Public Funding for Steel Decarbonisation & Implications for South Korea’. Following the first presentation, Kenta Kubokawa, Japan Analyst at Transition Asia, will delve deeper into the interplay of public-private engagement on steel decarbonization in Japan, in a presentation titled ‘Public Steel Decarbonisation Funding in Japan: Current Status & Implications for Japanese Steel Industry’. 

 

The presentations will be followed by a Q&A session, moderated by SFOC’s Steel Lead, Heather Lee. 

Title: Financing Solutions for Steel Decarbonisation in East Asia – Unlocking Subsidies in South Korea and Japan  

Time: 16:00-17:00 JST/KST | 9:00-10:00 CEST  

Date: Thursday, June 13, 2024 

Format: Zoom 

Language: Presentations will be in English   (English-Korean & English-Japanese simultaneous interpretation available )