Analysis
March 17, 2026
Final Thoughts
Written by Ethan Bernard
Decarbonization might’ve fallen out of the headlines a bit, but that doesn’t mean it’s gone away. Tariffs, geopolitical instability, outright war… There has been a lot to write about in the last year. Of course, though, many companies are still targeting net-zero emissions, and no single roadmap yet exists for how we get there.
For example, does decarbonization occur at the national or international level, or is it enacted by private industry? Do non-profits play a role? Well, these are questions that are all being worked out in real time. And there doesn’t necessarily have to be a binary answer.
At the federal level, the Trump administration pulled out of the Paris Agreement after the US rejoined under the Biden administration. But there are other things happening at the same time.
GSCC
For example, last week, SMU reported the Global Steel Climate Council (GSCC) had certified its first Asian steel company. Yamato Kogyo is a Japan-based steel manufacturer specializing in electric-arc furnace production.
As we’ve previously reported, GSCC is a non-profit organization with a mission to reduce steel emissions by creating science-based global standards. And GSCC’s Steel Climate Standard is described as “a globally applicable, technology-neutral framework based on science-based targets and transparent reporting.”
Also, we’ve written on GSCC’s certification of various Steel Dynamics Inc. products.
To me, that’s what makes this story so interesting. You have the interaction of a US-based non-profit with US and foreign steel producers to produce “green steel” to an agreed-upon certification.
Philip K. Bell, president and CEO of the Steel Manufacturers Association (SMA), recently commented on the news about Yamato Kogyo.
He noted that GSCC continues to expand its global footprint.
“What a lot of people don’t know is that over half of the Global Steel Climate Council’s members are foreign steel producers,” Bell said at a press conference on Monday during the group’s annual meeting held in San Antonio, Texas, together with the Metals Service Center Institute (MSCI).
“So this notion that this is just kind of a US, EAF-based initiative is not accurate,” he added. “And I think that 2026 is going to be a very bright year.”
A moving target
For those who have been to either the SMU Steel Summit in Atlanta or our Tampa Steel Conference in Florida, you’ll know that one of the perennial questions we pose is whether customers are willing to pay a premium for green steel.
And it’s one we are going to keep asking because the situation continues to develop. It’s a subject that exists at the intersection of the public and private sectors, coupled with evolving consumer demand.
This isn’t a static story. The situation is a moving target with industry, government, and consumer preferences each constantly on the go, and net zero as the main destination. With so many interweaving strands, sometimes it feels like we are all building the ship and trying to sail it at the same time. Heck, at this point, we might even be trying to take the ship straight to Mars, all with low carbon emissions.
What kind of role is decarbonization playing for you right now at your business? We’d love to hear from you all along the value chain at smu@crugroup.com, and thank you for all your support.
