Raw material recycled practices for carbon neutrality

Abstract

Carbon reduction is a primary strategic business development target of every industry. Petrochemical engineering and ferrous metallurgy are raw material industries that are key players in carbon emission control and are also facing huge challenges. Raw material recycling is a subject that has received much focus but is difficult to apply to products that have high quality and functional characteristics. This practical paper introduces two case studies of Company A to illustrate practical suggestions on raw material recycling realization and management for carbon neutrality from the following business strategic aspects: chances and risks of application, technical process innovation, carbon reduction rate and cost. The results show the obvious feasibility and benefit of recycling raw materials into certain strategic selected products. This can reduce carbon effectively in parallel when there is a balance among the maturity level of raw material recycling systems in the market, supplier technical capability, and product demand. This research provides suggestions to firms on how to set up a transformation management strategy and achieve readiness for green innovation.

Keywords

• Carbon neutrality
• Scrap recycling
• Technical process innovation
• Cost benefit
• Joint development
• Sustainability