Financing the decarbonisation of China’s steel industry: Technology, policy and instruments | 中国钢铁行业脱碳融资：技术、政策和金融工具

This decade is pivotal for the transition of the steel sector towards the targets set out in the Paris Agreement. In China, 78% (730.8 Mt/yr) of the existing coal-based blast furnace capacity will need reinvestment by 2030, demonstrating the magnitude of investment needed to develop and roll out low-carbon steelmaking technologies to transform the sector. Therefore, financial flows must be aligned with a Paris-compatible scenario to avoid lock-in, and be in place for the next investment cycle, given the longevity of steel assets.