Steel could shed its reputation as a climate threat by using hydrogen instead of fossil fuels for as much as half of global output by 2050, according to BloombergNEF. The steel industry could adopt hydrogen for between 10% and 50% of output by mid-century given the right carbon pricing, BloombergNEF analysts wrote in a report. The sector accounts for as much as 9% of global carbon emissions, according to the World Steel Association.
