Stephan Raes assesses the policy environment for decarbonization of the steel industry at the 2nd European Green Steel Summit

Stephan Raes, Head of Building and Industrial Policy at the OECD, delivered a keynote speech on the decarbonization of the steel industry at the European Green Steel Summit. Raes' presentation focused on the goals of reducing the environmental impact of steel production and accelerating the decarbonization of the industry.

Highlights of Raes' speech included introducing the OECD's work on the decarbonization of steel, common challenges facing the steel industry and company strategies to overcome these challenges. The speech addressed the current policy framework of the steel sector, which accounts for a significant share of global emissions, with a focus on mapping and analyzing decarbonization policies.

Raes highlighted the contribution of the steel industry to global emissions, emphasizing that steel producing countries face common decarbonization challenges. She also focused on the deep transformation required to decarbonize the steel industry and the strategies companies are taking to achieve this transformation.

Raes then moved on to the mapping and analysis of the decarbonization policies of the steel industry. In this context, the diversity of policy measures promoting the decarbonization of steel production and the differences between countries were discussed. There was also a discussion of policy approaches that support the development and implementation of low-emission technologies in the steel sector.

Finally, Raes concluded his speech with the progress made in decarbonizing the steel industry, but stressed that significant challenges remain. She stressed that policies for decarbonization of the steel industry play a critical role and that more efforts are needed and that the steel sector must work harder to achieve climate goals.