COUNTRY PROFILE – GERMANY 2023 STEEL POLICY SCORECARD - Looking for its place in a green steel future

Germany is a key potential agenda-setter for the global steel market, with many multinational steel producers headquartered there, and a long track record of ambitious climate policy and fiscal headroom to accelerate the transition. [...] It also subsidises all stages of project development, from R&D to 2 Calculated from Appendix C in Global Energy Monitor, 2023, Pedal to the Metal 2023 3 Global Energy Monitor, 2023, Pedal to the Metal 2023 2 C O U N T R Y P R O F I L E S – 2 0 2 3 S T E E L P O L I C Y S C O R E C A R D . [...] Combined with the great challenge posed by the recent complete phase-out of its nuclear fleet, this might not be enough, given Germany’s currently majority fossil-based power system.9 At the same time, it is home to possibly the most developed renewable PPA market globally.10 The Steel Action Concept is a strategy document published jointly by the preceding government and the steel sector.11 It me. [...] Germany’s national hydrogen strategy places a high emphasis on steel as an end- use sector and aims to stimulate the development of a market for both blue and green hydrogen.12 The specific target for electrolyser capacity has been doubled since the strategy´s previous version; this indicates a greater emphasis on green hydrogen. [...] We work on the frontier of the climate landscape, tackling the barriers and advancing the solutions to a safe climate.