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Nippon Steel Carbon Neutral Vision 2050 a Challenge of Zero-Carbon Steel

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Nippon Steel Carbon Neutral Vision 2050 a Challenge of Zero-Carbon Steel TSE Securities Code: 5401 Nippon Steel Carbon Neutral Vision 2050 A Challenge of Zero-Carbon Steel March 30, 2021 Table of Contents 2 1. Scenario to realize Zero-Carbon Steel P. 3 2. CO2 emissions in steelmaking process P. 9 3. Breakthrough technology development (1) High-grade steel production in large-sized EAFs P.17 4. (2) Hydrogen injection into BF P.22 5. (3) 100% hydrogen use in direct reduction P.31 6. CCUS P.36 7. Technological challenges and required external conditions P.43 Appendix: Carbon pricing P.46 Abbreviations: BF: Blast Furnace, BOF: Basic Oxygen Furnace, BT/Y: Billion Tons per Year, CCS: Carbon Capture Storage, CCU: Carbon Capture Utilization, CCUS: Carbon Capture Utilization Storage, DRI: Direct Reduced Iron, EAF: Electric Arc Furnace, H2: Hydrogen, HBI: Hot Briquetted Iron, MT/Y: Million Tons per Year © 2021 NIPPON STEEL CORPORATION All Rights Reserved. 3 1. Scenario to realize Zero-Carbon Steel © 2021 NIPPON STEEL CORPORATION All Rights Reserved. 4 Nippon Steel Carbon Neutral Vision 2050 ー The Challenge of Zero-Carbon Steel Adopting "Nippon Steel Carbon Neutral Vision 2050 – The Challenge of Zero-Carbon Steel,” as our own new initiative against climate change, a critical issue affecting human beings, we will strive to achieve carbon neutrality by 2050 as our top priority management issue. Key Phrase Activity Logo We have decided to actively work to achieve zero-carbon steel as a top priority management issue, and have established a new "Key Phrase" to summarize our environmental management and an "Activity Logo" to represent our activities as our "Environmental Brand Mark". We will make a concerted effort to tackle these extremely difficult issues. © 2021 NIPPON STEEL CORPORATION All Rights Reserved. 5 Zero-Carbon Steel: Our CO2 emissions reduction scenario 2030 Target Total CO 2 emissions (MT/Y) (Vs. 2013) 30% 30% or more reduction in total CO2 emissions vs. 2013 reduction [Means] • Actual implementation of the COURSE50 in the existing BF and BOF process • Reduction of CO2 emissions in existing processes 102 • Establishment of an efficient production framework. Carbon 91 Neutral Vision 2050 70 Carbon Offset Aim to become carbon neutral 2013 2019 2030 2050 [Means] Target Vision • Mass-production of high-grade steel in large size EAFs [Scope of Scenario] Domestic • Hydrogen reduction steelmaking (by Super-COURSE50 SCOPE I + II use of BFs; direct reduction of 100% hydrogen) (Receipt of raw materials to product shipment) + (CO2 at the • Multi-aspect approach, including CCUS* and other carbon time of purchase power production) offset measures,. *Carbon dioxide Capture, Utilization, and Storage © 2021 NIPPON STEEL CORPORATION All Rights Reserved. 6 Current steelmaking process Iron ore Electric power INPUT Scrap Coal BF +BOFprocess EAF process EAF Iron making BF PROCESS Steel BOF making Rolling mill CO2 CO2 OUTPUT CO2 © 2021 NIPPON STEEL CORPORATION All Rights Reserved. Carbon neutral steelmaking process 7 Scrap Carbon Carbon Breakthrough technologies free Iron ore free hydrogen power 3 external conditions required INPUT Coking coal for realizing zero-carbon steel 100% hydrogen use BF andBOFroute in direct reduction process EAF route EAF Iron Directly Directly reduced iron reduced iron making Super- PROCESS COURSE50 BF High-grade steel Steel production in large making BOF Increased use size EAF of scrap Rolling mill CO2 CO2 OUTPUT CCUS * Chemicals, biofixing, underground storage * Carbon Capture, Utilization, and Storage © 2021 NIPPON STEEL CORPORATION All Rights Reserved. 8 Our roadmap of CO2 emissions reduction measures CO2 reduction Carbon target -30% (vs FY2013) neutral EAF route EAF Practical implementation Production of high-grade steel technology Breakthrough Dev’t in large size EAFs Practical implementation development Dev’t 100% hydrogen use in direct reduction Hydrogen injection Hydrogen into BF 2008〜 Practical implementation Actual Dev’t demonstration test COURSE50 (Kimitsu) BF andBOFroute Practical implementation Actual Super- Dev’t demonstration test COURSE50 Lower CO2 emission in existing processes (advance in existing technology, expanded use of scraps and waste plastics, etc.) Lower carbon power (higher-efficiency power generation facilities, use of low carbon fuel in coal-powered generation, etc.) Building of an efficient production system (some transfers from BFs to EAFs, etc.) conditions (centralized production at an integrated steel mill, etc.) External Dev’t CCS (underground storage)/CCU (re-use) © 2021 NIPPON STEEL CORPORATION All Rights Reserved. 9 2. CO2 emissions in steelmaking process © 2021 NIPPON STEEL CORPORATION All Rights Reserved. 10 CO2 emissions in steelmaking process Automotive material’s CO emission in production • Steel is an “Earth-friendly material” as steel 2 Steel （kg-CO2eq/kg-Material) produces less CO2 per unit of production and during its entire life cycle, compared to other Aluminum Carbon fiber materials, and is highly recyclable. reinforced plastics • The total amount of CO emitted by the steel 0 102030 2 Packaging material’s CO emission in production industry is high since steel has an 2 Steel （kg-CO2eq/kNm) overwhelmingly wider range of applications and Aluminum is used extensively in large quantities compared Plastic (polypropylene) to other materials. Paper (milk carton) 050100150 Japan’s CO2 emission by sector By emitting sector By using sector Diverse application of steel products 当社9% Non-energy source Households 7% Nippon Steel Households 5% 16% 9% Steel Industry industry Commercial Other steel -use 6% 25% Commercial producers 6% -use19% Industry 39% Transportation Other 18% Transportation industries Energy 23% conversion 20% 39% Energy conversion Source: Ministry of the Environment, National Greenhouse8% Gas Inventory Report of Japan 2020 © 2021 NIPPON STEEL CORPORATION All Rights Reserved. Iron ore needs to be reduced 11 In nature, iron exists as oxides, iron ore. To produce steel products, oxygen must be removed (= reduced) from iron ore. The use of carbon (coal) is the best, stable, cost-effective method for reducing iron ore in large quantities. The reaction, however, emits CO2. Carbon (C) removes the From iron ore that oxygen (O) (reduction) in the exists as iron oxides iron ore as carbon is more Steel is (e.g., Fe2O3) in nature, reactive than iron (Fe). produced. One ton of steelmaking emits about 2 tons of CO2 C CO2 Fe2O3 Reduction Melting Refining Molding Fe © 2021 NIPPON STEEL CORPORATION All Rights Reserved. (Appendix) BF method steelmaking process 12 CO2 1) Iron oxide is Fe2O3 etc. Iron oxide removed of oxygen Sintering machine (reduced) and Iron ore melted, C Carbon Coke oven Fe Coking coal 2) transported in liquid state, BF Molten iron BOF Continuous caster Rolling Annealing Steel products 4) solidified into semi- 3) removed of and 5) processed into finished products with impurities, steel products. standardized sizes, © 2021 NIPPON STEEL CORPORATION All Rights Reserved. 13 CO2 emissions in steelmaking process The majority of CO2 emissions in the steelmaking process is derived from the iron ore reduction process in the blast furnace. Hot rolling Continuous to products casting 0.2-0.3 0.1 Basic oxygen furnace 0.2-0.3 BF /Hot-rolled coil) 2 (Iron ore reduction) Total 1.1-1.8 Sintering furnace 0.4-0.7 emissions (t-CO Coke 2 Material oven mining 0.1 CO 0.2 Source: Carbon Trust: International Carbon Flows (2011) © 2021 NIPPON STEEL CORPORATION All Rights Reserved. 14 Three eco-friendly efforts to address climate change Breakthrough Eco Process (The way we manufacture is “eco-friendly”) technologies to realize Japan’s steelmaking process is the most energy-saving in the world. carbon-neutral steel 130 123 128 116 117 119 122 109 100 103 Japan S. Korea Germany China U.K. France Brazil India Russia U.S.A. Energy intensity in BOF steel production (Japan = 100) Source: RITE Eco Products (What we produce is “eco-friendly”) Provides a wide variety of high-performance steel products, contributing to reduction of CO emissions in use 2 High-strength stainless steel High strength steel sheets for TM Electrical steel sheets HYDREXEL for high-pressure vehicles gaseous hydrogen Achieve higher fuel efficiency Reduce Improves the with lightweight, higher safety energy loss strength, safety, and high processability of motors and workability, and transformers life of the hydrogen infrastructure Eco Solution (Sharing our “eco-solutions”) Transfers best-available energy-saving technologies mainly in developing countries © 2021 NIPPON STEEL CORPORATION All Rights Reserved. Global steel stock increases 15 Steel stock per capita 16 Global steel stock 9.8 billion people X (ton/capita) 7 t/person Approx. 70 billion tons 7.4 billion people X 4t/person 8 Approx. 30 billion tons 0 1900 2000 2100 20152015 2050 Source: world steel association Source: JISF, Long-term vision for climate change mitigation: A challenge towards zero-carbon steel Steel stock in the form of final products, such as Global steel stock: 70 billion tons in 2050 infrastructure (i.e., buildings and bridges), industry (i.e., machinery and ships), and durable consumer Assumption: goods (i.e., automobiles and home appliances) is • Steel stock per capita of 7 tons in 2050, 30 billion tons or 4 tons per capita globally, • Global population growth from 7.4 billion although 8-12 tons per capita in developed in 2015 to 9.8 billion in 2050, countries. • Economic growth in emerging countries, and Expected to reach 10 tons per capita in China by • Efforts to SDGs. 2050 and in India by 2100. © 2021 NIPPON STEEL CORPORATION All Rights Reserved. Primary steel production is necessary to increase steel stock in the future 16 * Figures are rounded. Global crude steel Global scrap Global pig iron production estimates availability production estimates 1.5 1.4 2.7 BT/Y 1.2 BT/Y BT/Y BT/Y Home scrap 1.7 0.6 BT/Y BT/Y Prompt scrap Obsolete scrap Crude steel production needed Availability of scrap increases as Even if all the scrap is recycled, it to meet global steel stock the increase of steel stock.
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