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Abstract

A pathway towards 1.5°C requires substantial economic, societal and technological transformations (IPCC 2018). All sectors require deep and immediate emissions reductions. Heavy industry (steel, cement and chemicals) and heavy-duty transport (trucking, shipping and aviation) are responsible for around one-third of global CO2 emissions (ETC 2018). However, reducing emissions in these hard-to-abate sectors requires policy makers to support the development and diffusion of carbon-neutral technologies and align decarbonisation strategies to global and regional sustainable development pathways. We use an updated version of the ENGAGE-Materials model to assess different strategies and technology options in the iron and steel sector to achieve decarbonisation and a sustainable use of resources. Our results show that an enhanced circularity and the availability of new low-carbon technologies in the steel sector help reduce the costs of decarbonisation. Furthermore, the introduction of a global carbon price that limits fossil fuel use and the associated greenhouse gas emissions motivates the steel industry to move towards a more circular use of steel.

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