High Costs Threaten to Derail Europe’s Plans to Decarbonize Steel Industry

As the energy transition continues at pace, reducing the carbon footprint of traditionally high-emitting industries is increasingly crucial to limiting global emissions. Of these hard-to-abate sectors, steel manufacturing is one of the most challenging. Despite incentives and tax breaks designed to promote the production of green steel – produced using zero-carbon electricity – European steel mills are facing an up-hill struggle. The long-term economic viability of green steel versus grey steel – produced using fossil fuels –…