The steel sector can be transitioned to a Paris Agreement-aligned emissions pathway by 2030, it found in a report, but the global pipeline of near-zero-emissions steel projects must triple within the next three years to do so.
Such a feat would enable 190 million tonnes per annum of 'green' production by 2030 and keep industry emission reduction targets within sight.
Steel already accounts for 7 per cent of annual global greenhouse gas emissions and demand is set to rise as the material is fundamental to building the energy transition, from wind turbines to electric vehicles, and to infrastructure growth in developing economies.
"Breakthrough" iron- and steel-making technologies, centred around using low-carbon hydrogen to produce direct reduced iron, have been developed and offer a viable solution for decarbonising primary steel.
But the report found that “practical policy and industry action” would be needed in the UK, Spain, France...