Accelerating Industrial Decarbonization in China

This report outlines the critical role of China's iron and steel industry in meeting global climate goals and provides a framework for companies to set aligned targets and implement decarbonization mechanisms.

• The global iron and steel industry is projected to consume between 4.8% and 10.9% of the 400 gigaton global carbon budget allocated for the next 30 years to maintain a 67% chance of limiting warming to 1.5°C. At current emission and development rates, the carbon budget for steel is expected to be exhausted within 5 to 12 years.
• China is a pivotal geography for steel decarbonization because it accounts for more than half of global steel production. Actions taken by Chinese companies are essential for both China's own carbon neutrality goals and for global industry emissions reductions.
• The report recommends that Chinese iron and steel companies align their ambition and transition pace with national goals of carbon peaking by 2030 and carbon neutrality by 2060. It suggests using international target-setting practices, technological feasibility of carbon reduction levers, and synergies between trading, financing, and carbon asset management mechanisms to implement emissions reductions.

APA

RMI (2024). Accelerating Industrial Decarbonization in China. https://rmi.org/resources/accelerating-industrial-decarbonization-in-china-key-climate-actions-for-iron-and-steel-companies/

Chicago

RMI. Accelerating Industrial Decarbonization in China. 2024. https://rmi.org/resources/accelerating-industrial-decarbonization-in-china-key-climate-actions-for-iron-and-steel-companies/.

Wikipedia

{{cite report |author=RMI |title=Accelerating Industrial Decarbonization in China |date=18 June 2024 |url=https://rmi.org/resources/accelerating-industrial-decarbonization-in-china-key-climate-actions-for-iron-and-steel-companies/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{rmi2024accelerating, author = {{RMI}}, title = {{Accelerating Industrial Decarbonization in China}}, institution = {RMI}, year = {2024}, month = jun, url = {https://rmi.org/resources/accelerating-industrial-decarbonization-in-china-key-climate-actions-for-iron-and-steel-companies/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }