Greening Steel: Decarbonising a Hard-to-Abate Sector

Steel accounts for roughly 7 to 11% of global CO₂ emissions and remains central to economic growth and infrastructure. Lower-carbon production routes require clean power, hydrogen, carbon capture and different feedstocks while also staying cost-competitive. These routes carry a cost premium over conventional production (requiring advanced technology, financing) that buyers have so far been reluctant to absorb. With steel being a global commodity, a producer decarbonising ahead of its competitors risks losing share rather than gaining it. The discussion will focus on technology maturity, transition financing, demand for lower-carbon steel, and the policy needed to bridge the early cost gap.