While such corporate commitments to carbon neutrality are essential, they are inadequate without state support. They includeВ Luxembourg-based ArcelorMittal,В JapanвЂ™s Nippon Steel, South KoreaвЂ™s POSCOВ andВ ChinaвЂ™s state-owned Baowu Steel. Four of the worldвЂ™s top five corporate steel producers have all recently announced plans to reduce their carbon emissions over the next three decades. steel sectorвЂ™s biggest foreign rivals are already proactively rolling out initiatives to transform their production systems to carbon neutral over the next three decades to cater to the lucrative new вЂњgreen steelвЂќ marketВ of the future. steel sector decarbonization will also help ensure that the projected steel output surgeВ to service rapidly expanding green technologies including wind turbinesВ and electric vehiclesВ doesnвЂ™t negate their positive environmental impacts.Д«iden needs to move fast. steel to carbon-neutral production processesВ would help reduce the estimatedВ 8 percent of total global carbon emissions pumped out annually by the worldвЂ™s steel sector. is the worldвЂ™s fourth-largest steel producer. Infrastructure spending to accelerate the countryвЂ™s steel sector to carbon-neutral status offers Biden the most obvious initial bang for infrastructure investment buck. The United NationsвЂ™ Intergovernmental Panel on Climate Change (IPCC) has warnedВ that carbon reductions are essential to limit global warming to 1.5 degrees CelsiusВ by 2050, and that failure to meet that target will greatly increase вЂњclimate-related risks to health, livelihoods, food security, water supply, human security, and economic growth.вЂќ as a global leader in вЂњhigh-growth industries of the future.вЂќ Harnessing federal spending to heavy industry decarbonization would also ensure that the literal building blocks of BidenвЂ™s infrastructure program donвЂ™t produce a planet-bakingВ carbon surge. Such targeted infrastructure spending would do more than just fulfill BidenвЂ™s pledgeВ to put вЂњsectoral decarbonizationвЂќ at the center of his administrationвЂ™s вЂњgreen recovery efforts.вЂќ It also dovetails with his stated objectiveВ of positioning the U.S. TheВ United Kingdom recently earmarkedВ an initial $1.4 billion USD to fund government-corporate decarbonization partnerships. is already playing catch-up in this regard. Successful industrial decarbonization hinges on joint government-industry investment to develop the new technologies and renewable energy systems ,В including hydrogen, that will define the carbon-neutral economy of the future. Call it the President Joe Biden industrial decarbonization вЂњmoonshotвЂќ moment.Д«idenвЂ™s planned spending of up to $3 trillionВ to overhaul the countryвЂ™s crumbling infrastructureВ gives him a historic opportunity to marry his ambitious climate change agendaВ to a government-funded supercharging of the transition of AmericaвЂ™s heavy industry sector - steel, concrete and chemicals - to carbon-neutral status.

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