Steel

International climate organization SteelWatch has condemned Nippon Steel and JFE Steel's joint investment of USD $1.08 billion in Whitehaven Coal’s Blackwater coal mine in Australia, calling it a significant setback for global climate efforts. The investment has drawn sharp criticism from environmental advocates, particularly in light of Nippon Steel's stated goal of becoming a zero-emissions steel company by 2050. "Nippon Steel wants us to believe that it will be a zero-emissions steel company by 2050, but it is relying on unworkable technology and expanding its use of coal, claiming it needs 'high-quality coal,'" said Toko Tomita, SteelWatch's Campaigns Director. "Choosing…