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 共建绿色钢铁供应链  | China report

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

Steel’s transformation | China report 2026 | English download

共建绿色钢铁供应链 | China report 2026 | Chinese download
  • Insights

Letter calling for increased ambition in Industrial Accelerator Act

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  • 15 businesses and organisations have written to the EU’s co-legislators
  • Signatories call for increased ambition to attract new investment
  • Europe has a pipeline of 100+ clean projects – estimated €85 billion in investment potential – needing market certainty to reach FID
  • IAA’s current requirements for aluminium, concrete and steel – sit below the capacity already in development
  • Insights

Mass balance: building trust in clean industry’s supply chains

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Our report: Principles and Guardrails for Credible Mass Balance Claims gives buyers, producers and standard setters a clear framework for designing and assessing credible mass balance claims.

More to Explore

  • Reports

Clean industry rising: the foundation of resilient value chains | report overview

2026 is on track to be the strongest year for clean industry investment to date. 19 commercial-scale projects worth $43 billion reached final investment decision (FID) in the last six months, more than double the pace of a year earlier, despite ongoing geopolitical headwinds.

  • Insights

Europe’s ETS windfall should fund clean industry market making

  • 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
  • Press Release

New ‘industrial sunbelt’ set to overtake the world’s biggest economies in clean industry race

China remains the frontrunner in clean industry development, securing a quarter of the $250 billion of investment in clean plants to date, closely followed by the US at 22% and the EU at 14%. But a block of emerging markets including India, Egypt and Brazil, part of the ‘new industrial sunbelt’, is quickly catching up.

  • Press Release

Fast-tracking the Green Industrial Revolution: new toolbox for G20 governments

Unleashing Market Forces provides insight into a toolbox of practical approaches governments and the private sector can use to accelerate towards sectoral tipping points, unleash market forces and drive the scale up of green commodity markets.

VIEW | Green Market Makers interactive report

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