Table 1 Scenario set-up
From: Averting the steel carbon lock-in through strategic green investments
Scenario name | Climate ambition | BF-BOF plant mean lifetime | BF-BOF project pipeline | Peak carbon budget |
|---|---|---|---|---|
Current Policies | Status quo | 35 years | All announced and under construction plants are built. | Not applicable |
Transition with Lock-in | Returning to 1.5 °C warming by 2100 (50% likelihood) | 35 years | All announced and under construction plants are built. | 820 GtCO2 from 2020 (corresponding to peak warming of 1.75 °C) |
Fast Transition | Returning to 1.5 °C warming by 2100 (50% likelihood) | 20 years in China and Global North countries, 35 years in all other regions | Only plants that are currently under construction are built; announced plants can be cancelled. | 820 GtCO2 from 2020 (corresponding to peak warming of 1.75 °C) |
