- In May 2025, EMSTEEL, one of the UAE’s largest steel and building materials manufacturers, unveiled its inaugural Green Finance Framework to accelerate its transition toward a low-carbon economy. The framework enables EMSTEEL and its subsidiaries to issue green financial instruments—such as bonds, loans, and commercial papers—to fund eligible projects in low-carbon steel and cement production, renewable energy installations, and energy efficiency technologies. Developed in line with global green finance standards, the initiative received a strong endorsement from Moody’s Ratings with a Sustainability Quality Score of SQS2. It reflects EMSTEEL’s broader ESG strategy and commitment to achieving net-zero emissions by 2050
- In May 2025, Cleveland-Cliffs Inc. announced the successful completion of a hydrogen injection trial at its Middletown Works blast furnace, marking a historic milestone as the first-ever use of hydrogen gas as an iron-reducing agent in a blast furnace in the Americas. During the trial, hydrogen was injected into all 20 tuyeres of the #3 blast furnace, replacing a portion of the traditional coke and significantly reducing CO₂ emissions by releasing water vapor instead. This breakthrough demonstrates Cleveland-Cliffs’ commitment to decarbonizing steel production while maintaining product quality and operational efficiency
- In January 2025, JFE Steel Corporation announced it would begin supplying its JGreeX™ green steel to JFE Shoji Pipe & Fitting Corporation (JKK)—marking the first time a Japanese steel distributor has offered JGreeX™ in the steel pipe sector. This milestone enables small-lot shipments and faster deliveries, expanding access to sustainable steel solutions across construction and infrastructure markets. JFE Steel uses a mass-balance approach to allocate emission reductions to specific JGreeX™ products, supporting efforts to decarbonize supply chains and reduce greenhouse gas emissions throughout the lifecycle of buildings and industrial systems
- In January 2025, Volvo Construction Equipment (Volvo CE) began using low-carbon emission steel in the serial production of all its articulated haulers manufactured in Braås, Sweden. This milestone marks a significant step in decarbonizing heavy machinery manufacturing, as steel accounts for over 50% of the machines’ total carbon footprint. By integrating recycled, low-emission steel into its production process, Volvo CE aims to reduce lifecycle emissions and support its broader goal of achieving net-zero greenhouse gas emissions by 2040. The move also reflects a growing industry shift toward sustainable materials and circular manufacturing practices
- In October 2024, JSW Group and POSCO Group of Korea signed a landmark Memorandum of Understanding (MoU) to jointly develop an integrated steel plant in India with an initial capacity of 5 million tonnes per annum. This strategic collaboration aims to bolster India’s steel production infrastructure while also exploring synergies in battery materials—particularly for electric vehicles—and renewable energy. The partnership combines JSW’s robust manufacturing and project execution capabilities with POSCO’s technological expertise, laying the groundwork for sustainable industrial growth and innovation across multiple sectors
