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90% Carbon emissions need to be reduced from steel production
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Decarbonizing steel could need $1.4 trillion by 2050.One of the major sectors contributing to the majority of emissions.
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Majority of Steel production can be decarbonized by installing carbon capture and storage (CCS) equipment or by replacing furnaces with electric arc furnaces using scrap and hydrogen-based direct-reduced iron (H2 DRI).
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The global steel sector could potentially reduce CO2 emissions between 8-11% in 2030 and 31-41% in 2050.
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http://www.indiaenvironmentportal.org.in/files/file/steel%20final.pdf
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Carbon emissions from steel production will need to fall by 90% to meet the Paris Accord target.
