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Coking coal - the invisible fuel of green transition: Experts discuss at the European Financial Congress

From the perspective of one thousand meters underground - the place where the real green transition begins - the debate organized by Jastrzębska Spółka Węglowa (JSW) at the European Financial Congress in Sopot brought unique insights and expert voices on financing mining companies that reduce emissions.

“Many people think of windmills or solar panels when they hear 'green transition.' But the truth is that it starts 1,000 meters underground,” said Robert Ostrowski, Vice-President of the Management Board for Financial Matters at JSW. He stressed that the steel industry, crucial to the green economy, is heavily dependent on coking coal, the raw material that JSW mines. It is a raw material that is included in the European list of critical raw materials, highlighting its strategic importance.

Tomasz Ślęzak, from ArcelorMittal, emphasized the role of steel in our daily lives. “It is impossible to imagine the modern world without steel. To produce 1 MW of solar power, 40 tons of steel are needed,” Ślęzak added. Thus, steel, a raw material invisible to many, is absolutely crucial for a green future world.

BGK's Radosław Kwiecień noted that banks are increasingly open to decarbonization projects, while emphasizing the strategic importance of steel production in the supply chain.

The discussion showed that Jastrzębska Spółka Węglowa not only takes responsibility for the energy transition, but also designates a path to achieve carbon neutrality by 2050. JSW's continued mining of coking coal is therefore crucial to the future of Europe's green economy.

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