The Disruptive Potential of Green Steel
Steelmaking is one of the sectors contributing the most to global greenhouse gas emissions, with a global footprint of 2.9 GtCO2 per year, and is on track to consume 50 percent of the total remaining 1.5°C carbon budget by 2050.
Despite efforts to increase recycling, the remaining production of primary steel (i.e., steel made from iron ore) emits more CO2 than we can accept to keep global warming below 1.5°C. There is a critical need to find new, low-carbon solutions for iron ore reduction.
Several non-coal-based technologies for primary steelmaking are currently being piloted, with hydrogen-based direct reduction being the furthest developed. This report explores the potential use of hydrogen-based direct reduction technology as a potential low-carbon solution for the primary steelmaking process.