Steel is a foundation industry, literally the building block of our society, feeding into everything from construction to transport, critical national infrastructure, defence, energy pipelines, wind turbines, household goods, food packaging, and medical, industrial and agricultural equipment. Steel is the bedrock of the UK’s supply chains and is fundamental to the future of the UK economy, our economic resilience and national security. The industry supports thousands of jobs and communities both directly and indirectly along the supply chain, particularly in Wales and the North East of England.
Steel is also central to any ambition to decarbonise the UK economy – a meaningful decarbonisation, not through deindustrialisation and offshoring emissions, but by actually taking responsibility for the emissions of our steel consumption. With its infinite recyclability, steel is an essential component of a circular economy, generating thousands of green jobs and powering the decarbonisation of other sectors too. It is used in every single technology that a green economy relies on, from wind turbines and solar panels to electric vehicles and hydrogen infrastructure.
The UK is in a prime position to lead the world on Net Zero steel and grow the green economy by tapping into its strengths and resources. Not only is the UK already leading the way on renewable energy and boasting world-class research and innovation, but it also has abundant access to a critical resource, steel scrap, which has a central role to play in the steel sector’s decarbonisation journey. In addition to the obvious widespread economic and environmental benefits of steelmaking in the UK, access to a key raw material further enhances the business case for UK steel production as we transition to increasingly electric scrap-based processes.