Fitch: BF-BOF Steelmaking Faces Long-Term Climate Risks

Because of their large amount of carbon emissions, blast furnace-basic oxygen furnace (BF-BOF) steelmaking and the raw materials used in the steelmaking process are extremely vulnerable to long-term climate risks in the transition to a low-carbon economy, according to Fitch Ratings.

Fitch has assigned Climate Vulnerability Scores to the metals and mining sectors in a new report, with the higher the score suggesting the greater vulnerability in the transition to a low-carbon economy. Sectors with lower scores will see fewer disruptions and may even benefit from the transition, while sectors with higher scores may face an existential threat.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

Laura Miller

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