The Department announced the Clean Steel Fund (CSF) in 2019 and developments are currently underway. This policy will take time to design in order to be delivered effectively.
Based on previous evidence, complex decarbonisation projects have long lead-in times and take time to set up. Due to this and other factors, the steel sector indicated in response to the 2019 Call for Evidence that their preference is for the CSF to be launched in 2023. Other schemes are available to support the sector and are live now, including the Industrial Energy Transformation Fund.
Decarbonising UK industry is a core part of the Government’s ambitious plan for the green industrial revolution. The Industrial Decarbonisation Strategy, published on 17 March, indicated our commitment to work with the Steel Council to consider the implications of the recommendation of the Climate Change Committee to ‘set targets for ore-based steelmaking to reach near-zero emissions by 2035’.