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.’

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Over the next three years, Interpipe, the Dnipro-based steel pipe and railway wheel manufacturer, is investing $100 million in carbon reducing projects,

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Culminating a three-year effort, yesterday the Rada gave final approval to two bills designed to stimulate in Ukraine the manufacture of electric cars, components and chargers.