Steel is one of the hardest industries to decarbonize, accounting for about 7 percent of global CO2 emissions. A new report from the Observer Research Foundation examines how India, Japan, and South Korea, the largest steel producers outside China, can work together to shift to low-carbon steelmaking. The report covers key production technologies, supply chain readiness, and policy frameworks needed to harmonize certification standards and enable technology transfer across the three countries. The trilateral approach aims to address structural challenges like overcapacity and import competition while building supply chain resilience in the Indo-Pacific. With the EU's Carbon Border Adjustment Mechanism (CBAM) looming, steel exporters face pressure to adopt cleaner methods or risk losing access to key markets. The report highlights how coordinated action on hydrogen-based direct reduction, carbon capture, and electric arc furnace deployment could unlock shared economic gains and accelerate regional decarbonization.
