EBRD supports steel industry decarbonization in Slovenia

Banking

The European Bank for Reconstruction and Development is participating in Slovenian Steel Group's (SIJ Group) EUR 230 million long-term debt facility, with EUR 25 million to support the specialized steel company's efforts to further reduce its environmental impact, the bank said in a statement on Monday.

One of the core objectives of the EBRD is the transition towards a low-carbon economy in hard-to-abate industries, among which the steel and iron sectors rank first when it comes to CO2 emissions and second when it comes energy consumption.

SIJ Group already has one of the lowest carbon footprints in the steel industry globally, manufactures its products from 100% recyclable steel scrap and is aligned with the EU Taxonomy.

The proceeds from the EBRD's participation will finance energy efficiency improvement capex at SIJ's production sites in Jesenice and Ravne na Koroškem. 

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