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
  • Insights

Europe’s ETS windfall should fund clean industry market making

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  • 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
  • Events

Reuters Events: Global Energy Forum 2026 | coming soon

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Reuters Events: Global Energy Forum 2026 brings together 600+ senior leaders from across energy, finance, technology and policy to address the decisions reshaping global energy markets.
  • Newsletter

Signal | Issue 33 | June 2026

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A rare bit of positive news in a turbulent year: clean industry investment is accelerating. Data from our newly-published Global Project Tracker update shows that 19 commercial-scale clean industrial projects reached final investment decision in the past six months – more than double the pace of a year ago.

More to Explore

  • Press Release

Clean industry financing doubles as countries move to strengthen supply chains

London, 8th June 2026 – Clean industry plants are securing finance at their fastest pace yet, as countries and companies

  • Insights

What other states can learn from California’s journey to 150,000 EV chargers

In 2024, California announced that the state had more than 150,000 public and private electric vehicle chargers. While California must

  • Reports

Levers of acceleration driving progress in the project pipeline | report

Mission Possible Partnership (MPP) launched the new Global Project Tracker in April 2024. Mappinginvestment in the pipeline of necessary decarbonisation

  • Press Release

A new dawn for industry with over 1,000 clean projects in development worldwide, setting the stage for near-term acceleration

São Paulo, 4 November 2025 – Today, the Industrial Transition Accelerator (ITA) and Mission Possible Partnership (MPP) announced that clean industry

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