Global average direct & indirect emissions intensities of crude steel production via key routes

Scientists from the University of Technology Sydney (UTS) have developed energy-related carbon budgets for industries including the aluminum, steel and chemical industries as well as automobile and aviation. The global carbon budget to limit global warming to +1.5C with 67% certainty is 400 Gt CO2 (gigatonnes of CO2) until 2050. The steel industry would have a share of 19 Gt CO2 remaining, which is 5 of the total budget. For perspective, the steel industry emits over 2.5 Gt annually, which means that the budget will be exhausted long before 2050 unless some immediate intervention reverses the order of things.