A new report by SteelWatch reveals that leading global steel producers are significantly lagging in decarbonization efforts, despite public commitments to reduce emissions.
The assessment covered 18 major steelmakers across 29 countries, including companies such as ArcelorMittal, Tata Steel, and Nippon Steel.
Key findings show that no company scored above 50 out of 100, indicating insufficient readiness for transitioning to near-zero-emission production. The report highlights a significant “readiness gap” between climate targets and actual implementation.
Critically, most producers continue to rely on coal-based blast furnace technology, which accounts for up to 90% of emissions in the sector. Additionally, progress in scaling green technologies remains minimal, with average scores below 1 out of 25 for green iron and renewable energy adoption.
The steel industry currently contributes approximately 10% of global CO₂ emissions, underscoring the urgency of transformation.
Among the evaluated companies, SSAB ranked highest with a score of 46.2, followed by thyssenkrupp at 41.9, though both still face significant challenges in scaling decarbonization efforts.
The report emphasizes that accelerated investment in clean technologies and reduced reliance on coal this decade will be critical to meeting global climate goals.
VietnamSteel by Hoa Sen Group
