From cars to kitchenware, skyscrapers to bridges, steel plays an important role in our daily lives. It is the world’s most commonly used metal and provides the foundations of the modern industrial economy.
However, steel production is one of the world’s dirtiest industries and it plays a crucial role in the climate crisis. Steelmaking is highly emission-intensive and generates around 8% of global CO2 emissions every year. Emissions from steel production must decrease for industry to achieve net-zero emissions by 2050 and for countries to deliver on the commitments made in the Paris Agreement. Much greater international cooperation is needed to achieve this goal.
The G7 can provide the groundwork for a global transition. Ahead of the Leaders Summit, there are several steps that G7 governments should consider taking to help achieve industrial decarbonization.