A new assessment by international civil society organization SteelWatch has found that none of the world's largest steel producers are currently ready to transition to near-zero emissions production, despite widespread climate commitments.
SteelWatch's corporate scorecard assessed 18 leading steel producers in 11 countries, revealing a significant gap between long-term goals and actual implementation.
Low scores reflect limited progress
No company scored more than 50 out of 100, according to SteelWatch chief executive Caroline Ashley, highlighting a serious "transition readiness gap" in the industry.
This gap reflects the difference between the pace of transformation needed to achieve global climate change goals, and the current level of action taken by steel producers.
Coal mining still dominates
The report highlights that coal-based blast furnaces remain the dominant production route, accounting for up to 90 percent of industry emissions.
Despite growing pressure to decarbonize, the transition to low-emission production technologies has been limited.
Green iron and renewable energy adoption lag
Progress in green iron development and renewable energy integration remains particularly weak, with an average score of less than 1 out of 25 in this category. Although some early developments were observed, the report indicates that the pace
