SBC Applauds Major Emissions Reduction Announcement
The Sustainable Business Council (SBC) applauds the Government's collaboration with NZ Steel to reduce emissions by co-funding the installation of an Electric Arc Furnace at the Glenbrook steel factory.
According to SBC Executive Director Mike Burrell, this is a significant announcement that will greatly contribute to New Zealand's emissions reduction efforts. It is commendable to witness NZ Steel, an SBC member, taking a leading role in decarbonisation in partnership with the Government.
SBC, along with the Climate Leaders Coalition, recently emphasised the need for bold mitigation measures from political parties in a joint policy priorities paper released before the election. The objective was to achieve the ambitious goals outlined in the country's latest Emissions Reduction Plan.
This announcement aligns with the recommendations outlined in that paper, particularly regarding the decarbonisation of industrial processes, notably process heat, through public-private collaboration facilitated by the Government Investment in Decarbonising Industry (GIDI) fund.
Mr. Burrell expresses satisfaction with the Government's collaboration with New Zealand businesses on this project. He emphasises that neither business nor Government can accomplish this transition alone. By working together through authentic public-private partnerships like these, we can effectively reduce emissions and fulfil our net-zero commitments by 2050.
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Source: SBC
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