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BNEF: steel industry set to pivot to hydrogen in green push; additional $278B for clean capacity and retrofits

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Steel is responsible for around 7% of man-made greenhouse gas emissions every year and is one of the world’s most polluting industries. Government and corporate net-zero commitments are pushing the steel industry to cancel out its emissions by 2050. The steel industry cannot afford to wait for the 2040s to start its transition.

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The Global Outlook of Electric Vehicles

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This is partially due to the cost of EVs in these countries, but also with a relative lack of charging infrastructure. With this increase in demand came an equally steep rise in the price of the metals used in the manufacturing of EV batteries – particularly lithium – which the IEA’s report says is a significant challenge to the EV industry.

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Global investment in renewable power reached $270.2B in 2014, ~17% up from 2013; biofuel investment fell 8% to 10-year low

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billion) and South Africa ($5.5 In the UK and Germany we are seeing a move away from feed-in tariffs and green certificates, towards reverse auctions and subsidy caps, aimed at capping the cost of the transition to consumers. Global investment in renewable power and fuels (excluding large hydro-electric projects) was $270.2

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