Thyssenkrupp: pioneer of green transformation in industry - future orientation and partnerships in focus

Thyssenkrupp: pioneer of green transformation in industry - future orientation and partnerships in focus

According to a report by www.welt.de,

The traditional company Thyssenkrupp describes itself as a pioneer of green transformation and emphasizes that it has world-leading technologies to significantly reduce CO2 emissions. The new Decarbon Technologies segment, in which green activities are bundled, is intended to drive the green transformation. The focus is on the planned conversion of steel production in blast furnaces, in which hydrogen produced in a climate-neutral manner is to be used. Thyssenkrupp Steel is Germany's largest steel manufacturer and is responsible for around 2.5 percent of total carbon dioxide emissions in Germany.

The planned independence of the steel division is leading Thyssenkrupp into constructive discussions with the energy company EPH. A potential joint venture to support EPH with its energy expertise is part of ongoing negotiations. The secure supply of “green” energy at competitive prices is crucial to the success of CO2-neutral steel production. Co-determination plays an important role in this transformation and is closely integrated into the discussions about self-employment.

In the financial year that ended at the end of September, the group reported depreciation on the steel business amounting to 2.1 billion euros, which pushed the group deep into the red. Nevertheless, Thyssenkrupp wants to return to profitability in the new financial year. The group's shares rose positively on the stock market and Thyssenkrupp is planning profitable growth through the use of artificial intelligence to better manage material inventories.

The planned switch to CO2-neutral steel production could have both positive and negative effects on the market and the financial sector. If Thyssenkrupp is successful, they would be pioneers and would strengthen their position in the steel industry. Due to increasing social and political demands for sustainability and environmental protection, this could have a positive impact on the company's reputation. On the other hand, the investments and the conversion to new technologies are costly and could lead to temporary financial losses. The impact on the market will depend heavily on the implementation and successful introduction of CO2-neutral steel production.

Overall, the planned change is an important step for Thyssenkrupp to meet the challenges of climate change and to establish itself as a pioneer and leading company in the green transformation in the long term.