Transforming Steel

Transformation of the steel industry | critical factors

Direct iron reduction with green hydrogen
Carbon capture and storage (CCS)
Additional gains will come from direct iron reduction with natural gas (with CCS on remaining emissions), and increased scrap use

Global burden of steel production

Industry-endorsed strategy

In 2022, we developed a Steel Sector Transition Strategy in collaboration with a diverse set of industry leaders. This provides a shared vision for a clean steel future, modelling of pathways, real economy milestones and the industry, policy and finance actions required to get there. Assumptions have not been updated since publication, but the STS still represents a quantitative reference point.

Sector Transition Strategy documents

Report | Making net-zero steel possible

Industry-backed 1.5°C aligned transition strategy download

Executive summary download 
Infographics summary download 
Pathways to net zero interactive modelling
Model code github

Global Project Tracker | latest in-depth data

Further reading | Steel

Reports

Steel’s transformation 철강 산업의 대전환 | report

12 Aug 2026

CBAM│clean industry│low-carbon│steel

Korea is one of a number of countries across the East Asian region where the steel sector is facing a pivotal moment, this is the first in a series of reports where we examine the opportunities for countries to reinforce the foundations of their industrial strength.

Steel’s transformation | Korean report 2026 | English download

철강 산업의 대전환 | Korean report 2026 | Korean download

Events

Steel’s Transformation Moment │ 13 August 2026

20 Jul 2026

APAC│Events│steel

13 August 2026 | Korean Chamber of Commerce and Industry

Mission Possible Partnership and the Korea Chamber of Commerce and Industry are hosting a dialogue on the core enabling conditions needed to commercialise low-carbon steel production in Korea.

Insights

Europe’s ETS windfall should fund clean industry market making

16 Jul 2026

clean industry│Europe│Global Project Tracker

The European Commission is deliberating a revision of the European Trading System – the flagship instrument of climate policy
Lobby groups are pushing hard to extend the free credit allowances and push back the 2040 horizon. This is a crucial juncture
Europe’s resilience and competitiveness are at stake
Europe’s growing ETS revenue can be redirected to mechanism that create demand certainty and unlock clean industrial investment

More to Explore

Bright Spots

05 Jan 2026

Repsol Ecoplanta | Spain

Repsol’s Ecoplanta project in Tarragona reached final investment decision (FID) in January 2025 and will pioneer the commercial-scale production of

Press Release

12 Oct 2023

Ambitious Coalition Launches to Enable First Clean Hydrogen Shipment Across Atlantic by 2026

Houston, Texas – October 12, 2023 The Mission Possible Partnership (MPP), RMI, Systemiq, Power2X, and industry leaders have formed a

Events

27 Sep 2024

Inaugural NYCW Green Markets Day 2024: comments from keynote, John Podesta

Comments from keynote speaker John Podesta Senior Advisor to the US President for International Climate Policy at the inaugural NYCW

Press Release

14 Nov 2024

Call to unlock demand for low-carbon products and accelerate industrial projects worth $1 trillion

14th November 2024 – Governments must urgently act to stimulate demand for low-and near zero-carbon materials, chemicals and fuels to accelerate