Outlook 2022: Setting a strategy for net-zero steel

Industry endorsement of the Net-Zero Steel Sector Transition Strategy promises to unlock decarbonisation in steel and beyond

Driving emissions out of the steel sector is key to broader decarbonisation. It promises early wins that can help keep the 1.50C warming threshold in reach. And it can be done at a relatively low cost while avoiding huge volumes of carbon dioxide (CO₂) emissions. But achieving this decarbonisation will require collaboration across the steel industry, throughout its value chain, and with policymakers and investors. Net-zero steel will cost more than steel made with conventional processes, even in the medium term. Bridging this cost differential is key to unlocking investment at the scale and pace required. The good news is that this collaboration is beginning to emerge. In October, leading st