Insight
Steel's roadmap to decarbonisation in an accelerated energy transition two-degree warming scenario
This report is currently unavailable
Report summary
Steel is responsible for 7% of global CO2 emissions. This industry needs to decarbonise if the world is going to achieve a two-degree warming pathway aligned to the goals of the Paris climate agreement. • What does steel need to do to be compliant with a two-degree world? • How can steel decarbonise to this extent? • And why is it not the Wood Mackenzie base case that decarbonisation will be successful? We have explored an alternative scenario, beyond our base case, whereby steel follows a two-degree warming pathway. The challenge is immense. A revolution in steelmaking is required for success. It is not our base case; we don’t think it will happen. Read the report and decide if you believe steel can follow the AET 2.0 pathway…
Table of contents
- Executive summary
-
Steel AET 2.0 scenario analysis
- Steel demand is unchanged from the base case
- Carbon emissions from the steel sector must fall by 75%
- Steel production methods must change
- 1) Double the scrap use in steelmaking
- 2) DRI gains high traction - Tripling production from current levels
- 3) Reduce EAF emissions intensity by around 70%
- 4) Reduce BF-BOF emissions intensity close to its theoretical minimum
- 5) Capture and store 500 Mt of carbon dioxide – around 46% of the residual
- Hydrogen demand from steelmaking
- Conclusion
Tables and charts
This report includes 11 images and tables including:
- Base case emissions by segment
- AET 2.0 emissions by segment
- A slight rise in scrap availability by 2050
- Scrap consumption to improve significantly
- DRI production in AET2.0 vs base case
- Technology-wise DRI and EAF production
- DRI trade – key importers and exporters
- Global CCUS requirement vs usage efficiency
- Region-wise CCUS requirement
- Hydrogen demand at region level
- Hydrogen demand in BOF v EAF
What's included
This report contains:
Other reports you may be interested in
05 October 2022
Noble alloys under an accelerated energy transition
Insight
Noble alloys under an accelerated energy transition
This Insight explores the supply and demand implications of an accelerated energy transition pathway on noble alloy markets.
$1,05026 September 2022
Bulk alloys under an accelerated energy transition
Insight
Bulk alloys under an accelerated energy transition
We explore the supply and demand implications of an accelerated energy transition pathway to bulk alloy markets.
$1,05017 November 2022
Future exploration outlook
Asset Report
Future exploration outlook
Focuses on the near-term exploration outlook until 2027 and the sector’s longer-term prospects to 2050.
$11,000
