G7 green steel climate advisers

The Necessity of G7 Leadership in Cleaning the Steel Market

G7 countries are in a prime position to lead global cooperation to reduce emissions from the production of steel. At the upcoming May 2023 G7 summit these nations shouldn’t ignore their chance to place industrial decarbonization, with a focus on steel, at the top of the agenda.

Production of steel accounts for 7-9% of global CO2 emissions. While other sectors have readily available solutions for decarbonization, efforts to decarbonize heavy industry like steelmaking are less mature. The G7 has the capability to work together to incentivize investments in implementing new solutions to decarbonize the steel sector. With three of the five largest steel producers and two of the four largest steel importers being members of the G7 there are also clear incentives for these nations to lead on decarbonization for steel.

Download this paper to better understand the importance of G7 leadership on decarbonizing steel, how G7 cooperation with India could open up new opportunities for decarbonization, and further recommendations for countries and companies looking ahead to a green steel future.

Climate Advisers wishes to express its gratitude to George Frampton and the Atlantic Council for their authorship and contributions to this report.