Global Steel at a Crossroads

So, why does the global steel sector need to invest in climate-neutral technologies in the decade of the 2020s and not the latter?

Agora's paper identifies that 71% of the coal-based blast furnaces used in the steel industry will actually finish their functioning lifespan before we reach the year of 2030. Essentially this means that these critical decisions about where re-investments are needed, have to be made now.

As result, this means that any decisions made after 2030 about investments or carbon capture and storage will carry a high risk.

Resource: Global Steel at a Crossroads

Author & Year: Agora, 2021