ArcelorMittal has a 2050 net zero emissions target and is planning to shift from blast furnaces to green hydrogen-based steelmaking in Europe and Canada, but is still building coal-consuming blast furnaces in India. ArcelorMittal appears to be planning a two-speed decarbonisation with ready-to-deploy DRI technology to be installed overwhelmingly in developed nations while the developing Global South is on the slower pathway involving more blast furnaces and as yet unproven CCUS technology. With no major breakthrough in CCUS for coal-based steelmaking on the horizon, investors should be asking questions about ArcelorMittal’s Indian expansion and how it’s compatible with a 2050 net zero emissions target.

The EU's steel production is falling, presenting a deindustrialisation threat and increasing emissions from cheaper, dirtier imports. 'Green' steel could reverse this trend.

This report identifies the challenges of producing green steel in Japan through blast furnaces, hydrogen-based direct reduced iron (H2-DRI) making, and electric furnaces. The Japanese steel industry has already started pioneering efforts to switch to green steel, such as developing technology for producing high-grade steel sheets in large electric furnaces and using H2-DRI technology. Based on these efforts, this report proposes five strategies for decarbonizing Japan's steel industry, including 'electric furnace phase-in and blast furnace phase-out' with consideration to the regional economies that have supported Japanese steel production to date, expanding green steel demand, utilizing offshore wind power, and revising the government hydrogen strategy, which treats grey and blue hydrogen in the same way as green.

An analysis of the Green Steel Premium for China and the EU in 2022, and how policy instruments and pricing have to develop to make China competitive.

This report assesses data on coal mine methane (CMM) and steelmaking from the International Energy Agency (IEA) and other organisations. The steel industry’s current climate impact and how it might evolve under the IEA’s medium to long-term Global Energy and Climate Model scenarios is analysed before providing recommendations to industry stakeholders.

This report aims to bring together a summary of 26 current major standards, protocols, initiatives, and government policies focused on reaching the goal of green/low-carbon steel production and decarbonization of this sector.

With India being the world’s second-largest producer and consumer of steel, any meaningful global shift towards low carbon steelmaking must be based on an understanding of India’s unique context and circumstances. The India Net Zero Steel Demand Outlook Report is an important step in building this understanding as it evaluates the Indian market for net zero steel and the factors that will drive this demand in the decades to come. The report brings out the economic and decarbonisation opportunity available to Indian steel makers today and makes a case for the adoption of low carbon technologies for steel production.

Achieving a zero-emission future depends greatly on how steel production is decarbonized within a limited time frame. This report demonstrates that the production of zero-emission steel is possible but that the quantity and quality of steel may be limited by scrap downcycling. Using Japan as a case study, this report shows that most steel scrap is currently downcycled into construction materials, thereby limiting scrap-based steel to only 20% of the total steel used for automobiles, compared to 60% for buildings. Under a strict carbon budget, such downcycling practices could limit the production of steel used for automobiles to ~40% of current levels by 2050, even if production technology progresses according to the roadmap. The results indicate that steel users should not take the current level of steel supply for granted in a zero-emission future. Decarbonizing the steel sector, therefore, will depend not only on stand-alone efforts by the steel industry but on joint action with steel users to enable scrap upcycling and service provision with less steel use.

The global steel sector is making progress towards reducing its CO2 emissions but is not yet on track to half CO2 emissions by 2030 or fully decarbonise by 2050, which supports other studies. This report estimates that the global steel sector could potentially reduce CO2 emissions between 7-10% in 2030 and 30-39% in 2050, when compared to the baseline scenario, through full implementation of existing GHG reduction targets in steel producing companies. This is equivalent to a reduction from 2019 levels between 6-12% in 2030 and 36-50% in 2050.

Author: Maria Jose de Villafranca Casa, Anna Nilsson, Sybrig Smit, Joël Beuerle, Takeshi Kuramochi, 2022

This report provides the following suggestions to fix the The Korea Emission Trading Scheme (K-ETS): (1) Adjustment of emissions cap in accordance with the enhanced 2030 NDC, (2) Substantial increase of auctioning in light of the EU CBAM, (3) Price floors to safeguard the incentives for emissions reduction, (4) Implementation of coal generation cap or a single benchmark for coal and LNG in order to facilitate reductions in the power sector, (5) Fundamental change to calculation of the total emissions cap.

In this study, the SFOC and CREA reveal that Korean steel plants contribute to air pollution, premature deaths, and economic costs. Their emissions exceed recommended air quality levels, resulting in approximately 506 premature deaths in 2021 and costing KRW 3.4 trillion (USD 2.95 billion). Without intervention, the cumulative impact could be 19,400 deaths and KRW 127 trillion (USD 111 billion) by 2050. Implementing carbon-neutral policies recommended by SFOC and CREA could save lives and reduce economic burdens significantly.

Did you know that steel can be 1,000 times stronger than iron? Or that it is the most commonly used metal in the world? #steelFacts provides fundamental facts fuelled by expert knowledge about the steel industry, including its benefits and uses.

Author: World Steel Association

Financing Steel Decarbonization combines technical assistance, low-cost patient capital, and implementation stage support to prepare, invest in, and de-risk decarbonization technology projects for low-carbon steel production, while supporting the development of the wider industrial ecosystem.

There is no argument about what the mission is - we need to cut emissions significantly and reach net-zero by 2050. Additionally, there needs to be a stop to investors engaging with carbon intensive technology and assets. The report "Net-Zero Steel: Sector Transition Strategy", by the Mission Possible Partnership, details a net-zero transition strategy that is backed by science and the industry itself. This strategy identifies exactly what needs to happen before 2050, to limit the rise in global temperatures to 1.5°C

Author: Mission Possible Partnership, 2022

This report focuses on comparing the criteria air pollutants emissions intensities for the steel industry in selected countries. It is hoped that the benchmarking of criteria air pollutants emissions intensities will help policymakers prioritize abatement of specific criteria air pollutants and design policies for the curtailment of their emissions.

Author: Ali Hasanbeigi, Navdeep Bhadbhade, Ahana Ghosh, 2022

“The global market for low-CO2 materials could reach 100 USD billion by 2030”, depicting that the opportunity is there - but what about the technology? This study explores the momentum of clean technology development in the industrial sector, as well as what policy areas can be intertwined to increase the production of low-CO2 materials.

Author: Material Economics, 2022

This study gives a breakdown of ResponsibleSteel, the CEM IDDI, and the US federal Buy Clean program, analyzes their policy goals and their political implications, and provides recommendations on how to make them more effective.

Author: Mary Hellmich (adelphi) & Sarah Jackson (E3G), 2022

Climate Bonds Initiative's webinar brings you 6 speakers to discuss the transitions required in the steel sector.

Author: Climate Bonds Initiative, 2022

SteelZero announced the policy principles required to be implemented by governments to aid in accelerating the global transition to net zero steel. These outlined principles will also provide business with the required information to advocate for the critical changes that are needed in all areas steel.

Author: Climate Group, 2022

Just as the title states, "steel is our most important (and dirtiest) metal" - and this is why it is critical we act now. DW Planet A's video explains the why and the how of what changes are required in the steel sector.

Author: DW Planet A, 2022