Australia’s Iron Ore Exports Not Compatible With EU Carbon Tariffs, WWF Warns
Published on October 21, 2024
A global NGO has warned Australia’s iron ore is incompatible with green steel technology and could significantly affect the country’s export revenue if not addressed soon. During a recent Senate inquiry hearing, representatives from the World Wide Fund for Nature (WWF) raised the concerns. “The iron ore that we have is not particularly compatible with the green steel technologies that are available right now, and this needs to be addressed quite rapidly,” WWF Australia Industry Decarbonisation Manager Nicole Wyche said. She explained that the iron ore and steel industry was under strong pressure to decarbonise due to the Carbon Border Adjustment Mechanism (CBAM) introduced by the EU in 2023....