Iron and steel emissions varied significantly from year to year between 2005 and 2023, though they declined overall. Climate policies and market drivers will induce significant reductions in the years ahead. Between 2023 and 2030, two decarbonization projects drive a sharp decline in emissions, putting the iron and steel industry roughly in the middle of a net zero-compliant pathway. The net zero pathway shows a decline to zero or even net-negative emissions by 2050.