Global collaboration essential to realise $1.4tr iron, steel decarbonisation investment

To meet 2050 climate goals, the global iron and steel industry will require $1.4-trillion of investment across the value chain, from mining to steelmaking, estimates research and consultancy firm Wood Mackenzie (WoodMac).

A research report, titled ‘Pedal to the metal: iron and steel’s $1.4-trillion shot at decarbonisation’, published by WoodMac states that iron and steel emit 3.4-billion tonnes of carbon a year combined, equal to 7% of global emissions.