The Sustainable Business Council (SBC) is welcoming the Government’s move to partner with NZ Steel to reduce emissions through co-funding the installation of an Electric Arc Furnace at the Glenbrook steel factory.
SBC Executive Director Mike Burrell says, “This is a significant announcement which will have a huge impact on Aotearoa New Zealand’s ability to deliver emissions reductions. It is great to see NZ Steel, an SBC member, leading the charge on decarbonisation in partnership with the Government.
“Alongside the Climate Leaders Coalition, SBC recently called for bold mitigation action from all political parties in a joint pre-election policy priorities paper, in order to achieve the ambitious goals set out in the country’s most recent Emissions Reduction Plan.
“This announcement is consistent with the recommendations we have made in that paper specifically relating to decarbonising industrial processes (especially process heat) through the public-private action resulting from the Government Investment in Decarbonising Industry (GIDI) fund, which is very encouraging to see.”
Mr Burrell says he is particularly pleased to see the Government working in partnership with New Zealand business on this project.
“Neither business nor Government can deliver this transition alone. It is only by working together through genuine public-private partnerships such as these that we will be able to bend the emissions curve and deliver on our net-zero commitments by 2050.”