According to GMK Centre, Ukrainian steelmakers will need to invest $25 billion in order to meet the new low carbon standards of the EU and the US.

Speaking at an international forum on Wednesday: “Decarbonization of the Steel Industry: a Challenge for Ukraine.” Yuriy Ryzhenkov, CEO of Metinvest said: “Metinvest is developing a detailed roadmap to reduce CO2 emissions.” “We are very careful in working out each step that will eventually lead our production to carbon neutrality, because such a large-scale transformation should not harm the sustainability of our business.” On Wednesday, the EU Commission announced an aggressive plan to cut carbon emissions, including a “carbon border tax” on imports of ‘dirty steel.’