Paraná Legislative Assembly Approves Industrial Decarbonization Bill

Multiple initiatives and discussions worldwide emphasize the urgent need for decarbonization in heavy industries such as steel, cement, and oil and gas to align with sustainability goals. In Brazil's Paraná state, legislation was passed to promote industrial decarbonization through energy efficiency, renewable energy adoption, and technological innovation to ensure competitiveness and environmental responsibility. In Malaysia, a think tank highlighted that a phased increase in carbon pricing up to nearly US$50 is necessary to make low-carbon steel production commercially viable, supporting the government's upcoming carbon tax on high-emission sectors. Globally, the steel industry is transitioning from blast furnaces to direct reduced iron (DRI) methods that require higher-grade iron ore, pushing miners to adapt their production to meet decarbonization demands, with key producers targeting net-zero emissions by 2050. In India, the PHD Chamber of Commerce and Industry’s summit stressed the need for coordinated sectoral frameworks and inclusive strategies to overcome challenges faced by small and medium steel producers in achieving green transitions. Additionally, corporate strategies in Latin America are shifting from carbon offsetting to carbon insetting, focusing on emissions reductions within company supply chains, enhancing sustainability, social equity, and compliance with international regulations.