International Coordination and Policy Instruments to Promote a Hydrogen Economy: A Focus on the Steel-Making Industry
In the last three years, green hydrogen has been gaining significant momentum. Hydrogen will become a key component of decarbonisation strategies, enabling low-carbon energy storage and transportation. Producing cost-competitive hydrogen is difficult because of insufficient technology and manufacturing readiness levels, lack of scale and lack of political support. Economies of scale for hydrogen production could be achieved by introducing hydrogen in global industries which are major CO2 emitters. One of those is steel-making, accounting for roughly 7% of global CO2 emissions. This policy brief evaluates pathways and suggests enabling policy mechanisms for decarbonizing the steel industry and for the deployment of green hydrogen at scale.