Report | 2023
Unlocking the First Wave of Breakthrough Steel Investments in the United StatesDownload the report below
Despite the United States having some of the lowest average carbon-intensity steel globally, its steel industry still makes up approximately 7 percent of the nation’s industrial emissions each year. New technology and operational changes to reduce steel emissions will be required this decade to align US steel production with the 1.5°C emissions budget. The recently passed Inflation Reduction Act (IRA) and the Infrastructure Investment and Jobs Act (IIJA) provide energy- and climate-related financial support, which will accelerate public and private investment in new, clean infrastructure throughout the United States.
In this insight report analysis, multiple near-zero emissions brownfield and greenfield routes have emerged as positive investment opportunities. In tandem with financial analysis on several steel archetypes, the report summarizes non-financial industry solutions to accelerate and realize a financial investment decision for domestic breakthrough near-zero emissions steelmaking projects over the next five-years. The US near-zero emissions steel market is at the precipice of breakthrough steel investment to quench buyers’ mounting demand. Every player in the value chain has a role in realizing a final investment decision for breakthrough steel investment that will kickstart the United States’ near-zero emissions steel market, and the time to start is now.