Study

Stainless steel circular economy significantly reduces the risk of climate change in Thailand (FOTO)

Bangkok/Thailand (ots) -

- C02 savings correspond to the annual CO2 footprint of almost the inhabitants
of the Muang Chachoengsao district
- Thailand particularly affected by climate change: 9th place in the global
long-term climate change risk index
- Policymakers should create good framework conditions for a professional
circular economy and thus climate protection

Increased recycling of stainless steel can make a noticeable contribution to
mitigate climate change in Thailand and globally. This is the result of a recent
joint study by a number of prestigious Thai and German scientists, on behalf of
Oryx Stainless (Thailand) Co., Ltd., which looked at the social welfare benefits
of recycling stainless steel in Thailand. The Fraunhofer Center for
International Management and Knowledge Economy IMW from Leipzig, Germany,
planned and coordinated the study with the support of the German Embassy. For
every ton of stainless steel scrap used to produce new stainless steel, 6.71
tons of CO2 are saved compared to the use of primary raw materials. This was the
result of the scientific analysis conducted by Fraunhofer UMSICHT using the
example of the recycling processes at Oryx Stainless in Thailand. Oryx Stainless
is one of the world's leading suppliers of recycled stainless steel with five
sites in Asia and Europe. Based on the stainless steel scrap handled by Oryx
Stainless in Thailand in the reference year of the study (2021), the scientists
calculate CO2 savings of 556,000 tons. This approximately corresponds to the
annual CO2 footprint of the inhabitants of the Muang Chachoengsao district which
is close to the Thai location of Oryx Stainless or 1.45 percent of the total
greenhouse gas emissions from all industrial processes in the country. The
potential for Thailand and the climate becomes clear when one sees that almost
3.6 million tons of CO2 were saved within the entire Oryx Stainless Group in the
reference year.

The fight against climate change is of particular importance for Thailand, as
the country is already suffering greatly from the effects of global warming.
Thailand ranks 9th in the global long-term climate change risk index, which
covers the years 2000 to 2019. Thailand is highly exposed to natural hazards
such as heat waves, droughts, floods, cyclones and storm surges. Floods pose the
greatest threat to Thailand in terms of frequency and damage. The country is
already one of the ten most flood-affected countries in the world.

In terms of the economic costs caused by climate change, the volume of stainless
steel scrap that Oryx Stainless Thailand Co., Ltd. put back into the production
cycle saved around 1.9 billion Thai baht equivalating more than 50 million US