The Energy and Climate Intelligence Unit (ECIU) has found that the UK has currently one planned project compared to 38 reported in the EU, with nearly ten plants in Europe already producing green steel.
The only planned project in the UK is located at British Steel’s Scunthorpe plant, which is part of the Zero Carbon Humber initiative.
In 2021, the UK had no planned projects while the EU had 23 planned projects. the report stresses.
Jess Ralston, Energy Analyst at the ECIU, raised concerns about the UK’s ability to compete with other countries as car manufacturers start to seek out sources of green steel for their electric vehicle expansions.
Mr Ralston added: “The gas crisis has spurred a dash from the US and EU to build green industries. Does the Chancellor have something up his sleeve to ensure the UK doesn’t fall further behind on steel?”