Steel Yourself

The steel industry faces a conflict between growth outlooks and 1.5°C climate targets, requiring demand to peak between 2035 and 2040. Delaying decarbonization until 2030 would necessitate a 50% reduction in demand by 2050 to remain climate-aligned, posing a risk to primary steel production. To avoid this, the industry must invest in zero-carbon technologies like green hydrogen, with significant opportunities for producers in Australia, Brazil, and South Africa.

• To align with a 1.5°C climate outcome, global steel demand must peak between 2035 and 2040.
• Postponing emissions reductions until 2030 would force a 50% decline in steel demand by 2050 to maintain climate alignment, creating a significant risk for the supply chain and primary ore-based production.
• Steelmakers can mitigate the risk of stagnating demand by investing in zero-carbon primary production, specifically green hydrogen-based technologies, with high potential in iron ore-producing nations rich in renewables.

APA

RMI (2022). Steel Yourself. https://rmi.org/resources/steel-yourself/

Chicago

RMI. Steel Yourself. 2022. https://rmi.org/resources/steel-yourself/.

Wikipedia

{{cite report |author=RMI |title=Steel Yourself |date=24 May 2022 |url=https://rmi.org/resources/steel-yourself/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{rmi2022steel, author = {{RMI}}, title = {{Steel Yourself}}, institution = {RMI}, year = {2022}, month = may, url = {https://rmi.org/resources/steel-yourself/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }