Development directions with a global impact are referred to as “megatrends”. The growth of environmental awareness is one such megatrend which, through its interaction with other relevant issues, has a major influence on voestalpine strategy.
voestalpine is impacted by global developments, as is any globally acting company. Experts examine the impact of new trends on the voestalpine Group and its strategy in order to assess their dynamics and identify any associated opportunities and risks in good time.
In addition to growing environmental awareness, interaction with other megatrends is important for the voestalpine Group:
- New technologies
- Changes in mobility behavior
- Globalization and regionalization
- Changing values
- Increasing volatility and political tensions
- Changing resource requirements as well as
- Demographic change.
"None of these megatrends should be seen in isolation."
“For example, demographic change and increasing urbanization influence consumption behavior in the mobility sector. Choosing a different type of vehicle or drive train has a subsequent impact on the producers and their suppliers. In the end, growing environmental awareness is finally reflected in political decision-making, such as stipulations on CO2 emissions,” Maria Kregl continues.
Setting international trends
In a global comparison, voestalpine ranks among the top three in terms of specific CO2 emissions (ratio of emissions to production quantity). Over the past years the Group has consistently extended its technological leadership. The new direct reduction plant in Texas, the ongoing H2FUTURE electrolysis project, and long-term research into new, hydrogen-based steel production form the three cornerstones of voestalpine’s path towards CO2-reduced, and eventually CO2-free, production. Moreover, groundbreaking measures on the product side designed to support resource efficiency and a sustainable recycling economy are setting important milestones.
Consequently, strategic environmental management at voestalpine is closely linked to Group strategy. Decisions are taken in coordination with divisions and other specialist departments such as Research & Development and Strategy departments. The resulting measures for environmentally friendly products and processes have brought, and are bringing, voestalpine further into the international spotlight.
More on focus environment: http://www.voestalpine.com/environment
Our path to a green future
We are upping the pace of emissions reduction. greentec steel from voestalpine is Austria’s largest climate protection program. Starting in 2027, this program will reduce Austria’s annual CO2 emissions by almost 5%. 2024 marks the start of the partial shift from the blast furnace to the electric arc furnace (EAF) route—once unresolved funding issues in Austria are clarified.