Decarbonising the steel industry is one of the massive challenges in meeting climate goals, but could end up being extremely profitable for companies and governments prepared to take the risks.
The steel value chain accounts for 7% to 9% of global carbon emissions, the largest single industrial contributor and thus a prime target for the net-zero by 2050 goals of many countries and companies.
The problem is that about 80% of steel emissions come from a single step in the process, namely turning iron ore into pig, or crude, iron by removing oxygen and other impurities, a process that now involves using vast quantities of coal.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
