Method of greenhouse gas emission reporting for steel industry under discussion
A training workshop on methods of inventory, mitigation, and greenhouse gas emission reporting for steel businesses was jointly organised by the International Finance Corporation and the Vietnam Steel Association (VSA) in Hanoi on September 12, gathering representatives from nearly 60 steel-producing firms.
VSA Chairman Nghiem Xuan Da speaks at the workshop. (Photo: VNA)
Hanoi (VNA) – A training workshop on methods of greenhouse gas emission accounting and emission mitigation for steel businesses was jointlyorganised by the International Finance Corporation and the Vietnam Steel Association (VSA) in Hanoi on September 12, gathering representatives from nearly60 steel-producing firms.
The event offered a good chance for steel producers to gain abetter understanding of industrial decarbonisation technologies, thus reducingcarbon emissions in their products.
Participants also discussed opportunities and challenges relatedto carbon trading, which can be applied to meet increasingly stringentregulations towards achieving net-zero emissions, and strict requirements forlow-carbon steel from end buyers in the value chain.
Speaking at the event, VSA Chairman Nghiem Xuan Da said that it focused on measures to assist businesses in conducting greenhouse gas emission accounting and emission mitigation more easily, helping them meet legal requirements and thedemands of import markets, including those from the European Union (EU).
The event also provided steel companies with calculation tools(Excel models), which can be used to prepare annual greenhouse gas emissionsreports and mitigation plans in accordance with Vietnam's regulations, Da said.
From October 1, 2023, steel enterprises exporting to the European Union (EU) mustcomply with the EU's Car🎃bon Border AdjustmentMechanism (CBAM), beginning with theimplementation of greenhouse gas emission accounting.
The steel industry is one of the fundamental sectors in Vietnam,providing materials for various other industries such as construction,shipbuilding, container manufacturing, automobile, household appliances, mechanicalengineering, and other industries.
Statistics from VSA show that Vietnam exported about 8.4 million tonnes ofsteel worth nearly 8 billion USD in 2022, down 35.85% in volume and 32.2% in valuecompared to the previous year.
Ma⛦ Khai Hien, Director of the EnergyConservation Research and Development Centre (ENERTEAM), said this is a big challenge for Vietnam's steel manufacturingenterprises as the average rate of greenhouse gas emissions is about 23% higherthan the world average./.
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VSA Chairman Nghiem Xuan Da speaks at the workshop. (Photo: VNA) 
