Steel production could be achieved with almost no carbon emissions via US$ 278 billion of extra investment by 2050, according to a new report from research firm BloombergNEF. Hydrogen and recycling are likely to play a central role in reducing emissions from steel production. Steel is responsible for around 7% of man-made greenhouse gas emissions every year and is one of the world’s most polluting industries.

The commitment to tackling climate change is accelerating in all sectors of society, with net-zero pledges from companies, cities, states and regions doubling in the past year. Decarbonising supply chains is a major opportunity for companies to put these commitments into practice.