SteelWatch Corporate Scorecard
This is the critical decade for steelmakers to position themselves for near-zero-emissions steel. What we should be seeing is investment decisions that lead to the phase-out of coal-based production, and the scaling up of green iron and renewable energy. Assessing progress has been difficult so far, but now there is a reliable way to judge decarbonisation progress by steelmakers across geographies. The SteelWatch Corporate Scorecard assesses 18 major steelmakers, with operations in 29 countries, on how ready they are for this transition. Combining recent trends; current operations; enabling decisions for future operations; and both the credibility and transparency of climate targets and reporting unlocks valuable insight into the structural changes necessary to accelerate the transition. In this first edition, the Scorecard shows all assessed companies remain far from being institutionally and operationally prepared for transitioning to coal-free steelmaking. It finds that there is a huge “transition readiness gap” between what is needed for a credible near-zero emissions transition and what companies are actually doing. No company scored above 50 out of 100.
Score overview
This first edition of the Scorecard shows none of the 18 companies assessed are currently on track with their decarbonisation, climate, transparency or social responsibilities. Two companies, SSAB and thyssenkrupp, however are breaking away from the pack, as they have started to put the foundations in place to make the near-zero-emissions transition possible. The rest are clustered in an underperforming “peloton”. The average score is 27.
How is each company performing?
Using data from the Tracker, the SteelWatch Corporate Scorecard evaluates companies plans and actions across five categories on how ready they are to transition to near-zero-emissions steelmaking.
How are companies scored?
The Scorecard uses data from the Steel Transformation Tracker, published in December 2025, which uses publicly available information, mainly from companies’ own reported data, up to financial year 2024. Total scores are derived from performance across 21 indicators grouped into five categories: Phasing out coal, Scaling green, Climate performance, Targets and transparency and Social and environmental responsibility. Click through the categories for brief information on each indicator, or find the detailed methodology below.
Scorecard categories
Select a category to see indicators and how points are allocated