Will They Deliver or Fold?

Will They Deliver or Fold?

Economic Minister Mona Neubaur of the German state of North Rhine-Westphalia, a member of the Green party, has called on Thyssenkrupp to maintain its commitment to a green transformation of its steel division. According to Neubaur, the company has set a goal to make its entire steel production climate-neutral by 2045, a pledge that she believes the company will honor in the long term.

The path to achieving net-zero emissions, Neubaur said, lies in the construction of the first direct reduction facility at the Duisburg site. She emphasized the importance of the company’s commitment to its locations and the need to create a clear future perspective for employees in an open and responsible process, with dialogue on equal footing.

In contrast, Arcelor Mittal has put its subsidized green steel project on hold. Neubaur also sees the German federal government as being under an obligation, citing the Stahlallianz, an alliance of eleven German states, which she has been working closely with to develop a national action plan for green steel in Germany. She urged the new federal government to take swift action in this regard.

In a separate matter, Neubaur commented on the reappointment of Miguel López as CEO of Thyssenkrupp for a further five years, stating that the decision is a matter of corporate governance.