Full Title: Zeroing in on Steel Sector Emissions for Market Transformation
Author(s): Maeve Masterson, Lachlan Wright, and Chathurika Gamage
Publisher(s): Rocky Mountain Institute
Publication Date: January 21, 2025
Full Text: Download Resource
Description (excerpt):
The advent of clean steel means greater scrutiny of iron, steel’s key building block. Standalone iron production (in the form of Hot Briquetted Iron which is already globally traded) is projected to increase amidst rising potential for green iron exports, as well as growing appetite from electric arc furnaces (mini-mills) and end-use customers further downstream who are looking to directly support high-impact interventions in the steel supply chain.
For a cleaner iron market to scale, a high-ambition iron-level emissions threshold will be critical in guiding investment, trade, and purchasing toward deeply decarbonized ironmaking solutions.
Existing buyer ambition and high-quality production standards for clean steel can be leveraged to advance a near-zero emissions iron threshold and the supportive market infrastructure to accelerate and scale climate-aligned iron-level purchasing today.