The group is reportedly considering the move unless long-term government support offered

The company has said it has seen its bills for energy and carbon increase by £190 million last year

Ministers are reportedly considering injecting £300 million into British Steel to keep it afloat and help it decarbonise

The company’s proposed transition to electric arc furnace has the potential to reduce its carbon emissions by around 70%

Around two-thirds of those are expected to be office-based roles but the company insisted there will be no plant closures

The GREENSTEEL strategy aims to offset carbon emissions through investments in new environmentally-friendly technology such as hydrogen-based steelmaking