MACRO-REGIONAL DIFFERENTIATION OF DECARBONIZATION MODELS IN THE METALLURGICAL INDUSTRY UNDER THE DEVELOPMENT OF THE GREEN ECONOMY

Abstract

The purpose of the article is to identify and systematize macro-regional differences in decarbonization models of the metallurgical industry and to determine the factors shaping the choice of technological and investment pathways for the green transition. The research methodology combines comparative sectoral analysis, benchmarking of corporate climate strategies, elements of PESTEL analysis, comparison of resource endowments, and analysis of financial and economic parameters of low-carbon projects. The empirical base includes materials of the World Steel Association and international organizations, regulatory documents, as well as public reports of SSAB, ArcelorMittal, China Baowu Group and PJSC Severstal. Four conditional macro-regional decarbonization models are identified: the Northern European hydrogen-electric model, the globally diversified model, the East Asian evolutionary model and the Russian transitional model. The differences between them are shown to be determined by territorially localized factors: the cost and structure of the energy balance, availability of ferrous scrap and high-grade iron ore, cost of capital, carbon regulation regimes and the structure of sales markets. The study concludes that there is no universal economically optimal decarbonization pathway for the metallurgical industry. For the Russian metallurgical sector, a phased transitional model based on natural gas, nuclear and hydropower, higher resource efficiency and a national carbon-footprint verification system is substantiated.