Our Steel key result targets the single largest source of industrial emissions, at 3.4 gigatons.
It calls upon the world’s steel companies to develop practices and technologies to reduce the use of fossil fuels in production.
For emissions-free steel, we need to address three parts of the process. First, the iron-making furnace must be powered by green hydrogen or some other zero-emissions source. Second, a greater proportion of scrap needs to be used in manufacturing crude steel. Finally, remaining emissions need to be captured at the point of production.
By and large, low-emissions steel today is prohibitively expensive. Even so, a few small clean plants are opening in Europe, thanks to automakers and other customers willing to pay a premium for greener materials. To lower costs and make cleaner steel the standard, we need more first-mover purchasers.