Hyundai Steel Partners with Brazil’s Vale to Reduce Carbon Emission

Environment

The Hyundai Steel Company has announced that, the company has recently signed a memorandum of understanding (MOU) agreement with the Vale, one of the largest mining companies in the world based in Brazil, for the purpose of seeking many ways for cooperating, that is also including the reduction in the greenhouse gases and also the development of the low-carbon raw materials.

The memorandum of understanding (MOU) had been made as the interests of both the companies in the reduction of the greenhouse gases along with the need for securing the competitive low-carbon raw materials as the business environment changes along with the growing social demand for the reduction of the carbon emission.

The Hyundai Steel has also been aiming to decrease the emissions of carbon by 20 percent by the year 2030 and also realizing the neutrality of carbon by the year 2050, and the demand for the low-carbon steel sheets have been expected to rise significantly in the steel industries like the automobile industry for the purpose of realizing the carbon neutrality.

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The company ‘Vale’ has also presented the goal of the company for achieving the carbon neutrality in the year 2050, and both the companies has been planning to cooperate in identifying the ways for decreasing the greenhouse gases, along with conducting the feasibility study for the low-carbon solutions, along with consultation and discussion on them.

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