Making Net-Zero Steel Possible
The new edition of the Steel Transition Strategy builds on MPP’s earlier ground-breaking steel report, released in 2021, which mapped critical steps for decarbonisation decade by decade – including emissions data and real-economy milestones – for the sector to achieve net zero emissions by 2050.
Steel is integral to the energy transition, serving as a critical material for technologies such as wind turbines, electric vehicles, and advanced manufacturing processes. Current steel production is emissions-intensive, accounting for 7% of global greenhouse gas emissions. Industry transformation is both essential and possible for a 1.5°C-aligned iron and steel sector.
While net zero steel by 2050 is the goal, the strategy describes action that needs to be taken this decade if the sector is to achieve that objective. Both steelmaking technologies and enabling energy infrastructure will need to be ready in the 2020s to enable the rapid shift to near-zero-carbon production processes in the following decades
Steel interactive tool
MPP has released an interactive ‘Explorer’ tool to compare decarbonisation pathways for typical steel mills in different regions, with the functionality to generate custom user scenarios. The Python model for STS analytics is also available, full model code, outputs, and open-source input data are available for companies, financial institutions and governments to develop their own view of the transition.
MPP Sector Transition Strategies
MPP seeks to inspire cross-sector learning and real-world projects that will translate global strategic thinking into local action.
This Steel Transition Strategy joins a series of industry transition strategies developed by MPP to guide decarbonisation of seven hardest-to-abate sectors. Of these, four are from the materials industries: aluminium, chemicals, concrete, and steel. Transition strategies for the mobility and transport sectors – aviation, shipping, and trucking – are available online.