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The briefing finds that while net zero commitments among the top 50 steel producers have slightly increased, half of these companies still lack a 2050 target, and 23 lack concrete intermediate milestones. Transparency remains low, with only 15 companies defining their emission scopes. The report highlights the 2023 launch of the Science Based Targets initiative (SBTi) steel sector guidance as a key tool for improving target transparency and ambition, citing SSAB and Thyssenkrupp as early adopters.

The We Mean Business Coalition asserts that a transition to a zero-carbon economy is achievable but requires stronger government intervention to accelerate. The document highlights corporate commitments across power, transport, the built environment, heavy industry, and land use, while calling for policies such as carbon pricing, the removal of fossil fuel subsidies by 2025, and the implementation of robust Article 6 rules under the Paris Agreement to drive systemic change.

The We Mean Business coalition calls for stronger alignment between government policies and corporate climate action to meet Paris Agreement goals. The coalition highlights significant corporate commitments to emissions reductions and advocates for the Marrakech Partnership and the 2018 Facilitative Dialogue to be used as platforms for enhancing NDCs and building climate resilience.