Toward a Tradable, Low-Carbon Product Standard for Steel: Policy Design Considerations for the United States

Abstract

Steel production in the United States accounts for around 100 million tons of carbon dioxide equivalent emissions. Available and emerging technologies have the ability to significantly decarbonize the steel industry. A low-carbon product standard for steel in the United States can incentivize the adoption of these technologies and result in emissions reductions while preserving the international competitiveness of domestic steel manufacturers.