SteelWatch Corporate Scorecard 2026 – The Transition Readiness Gap
Iron and steelmaking remains one of the most emissions-intensive sectors globally, accounting for around a tenth of global carbon emissions. In an industry shaped by long-lived assets and capital-intensive production, decisions taken or delays made by major steel companies will play a critical role in shaping global climate outcomes.
This report presents the first SteelWatch Corporate Scorecard, assessing the climate performance and transition readiness towards decarbonisation of 18 major steel companies with production sites spread across 29 countries, and headquartered in 11 of them.
The companies assessed include ones headquartered in Europe, Asia and North America, representing a mix of nationally anchored producers and increasingly internationalised companies. All currently operate virgin ironmaking processes, with 175 coal-based blast furnaces in operation in total (as of end of fiscal year 2024),so are responsible for substantial emissions and critical future decisions for the climate.
This year’s report has a clear verdict: none of the 18 companies assessed is currently ready for the transition ahead.
Please note: Only the Executive Summary is available in Korean and Mandarin.
