TOKYO -- Japanese trading house Itochu and Shell are taking a chance at decarbonizing iron mines and steel mills in Brazil, a rare attempt to reduce carbon emissions in the upstream sector that could help green the carbon-heavy steel sector.
The project aims to put carbon capture, utilization and storage (CCUS) technologies as well as electric vehicle recharging systems to practical use. Reducing CO2 emissions in the upstream sector would contribute to decarbonizing the industry, which currently accounts for about 30% of the world's CO2 emissions.
