Steel production is responsible for up to nine per cent of global emissions. But decarbonising this vital sector is complex, particularly as demand continues to grow. How can we tell which steelmakers are genuinely moving towards deep decarbonisation and which are maintaining business as usual?
SteelWatch’s Steelmaker Transformation Tracker offers answers. This comprehensive tool assesses 22 of the world’s leading steelmakers across 12 countries using targeted, comparable metrics. From company emissions and decarbonisation commitments to ironmaking transformation and coal dependency patterns, the tracker provides credible insights into real transition progress.
For India, these insights arrive at a critical moment. As the country expands steel capacity at scale, its current reliance on coal-based ironmaking presents both challenge and opportunity. By aligning steel expansion with emerging global transition patterns, India can strengthen long-term industrial competitiveness and build a more resilient, future-ready sector.
This #GreenSteel60 session unpacks what the tracker reveals about global trends and explores how India can leverage alternative pathways such as scrap-based electric arc furnaces and domestic green hydrogen to accelerate its steel transformation.
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Speakers
- Katinka Lund Waagsaether, Strategic Projects Lead, SteelWatch Katinka joined SteelWatch in December 2023 and leads the scoping, development and design of key strategic initiatives, including the Steelmaker Transformation Tracker and SteelWatch Corporate Scorecard. She brings extensive experience from the climate field.
- Romain Su, Steel Analyst, SteelWatch Romain has dedicated much of his professional experience to sustainable development, particularly urban sustainability, responsible supply chains and industrial decarbonisation. He brings a deep understanding of the challenges faced by coal-dependent, fast-growing economies with strong industrial bases, and the effectiveness of public policies, corporate actions and social movements in driving a green and just transition.
- Simon Nicholas, Lead Analyst for Global Steel, Institute for Energy Economics and Financial Analysis (IEEFA) Simon is IEEFA’s Lead Analyst for the global steel sector, focusing on the long-term outlook for steel production and its implications for global iron ore and metallurgical coal markets. Before joining IEEFA in 2016, he had 16 years’ experience in the finance industry at ABN Amro, Macquarie Group and Commonwealth Bank of Australia in Sydney and London.
About the Green Steel60 series
#GreenSteel60 sessions are 60-minute virtual knowledge-sharing events that foster collaboration and learning across the India Green Steel Network. These quarterly sessions focus on actionable insights for decarbonising the steel sector. Want to learn more? We’re building collective power to accelerate steel decarbonisation in India through the India Green Steel Network. If you’d like to learn more about our work or explore collaboration opportunities, we’d love to hear from you.
