The MoU will form the basis of the “Steel Decarbonization Policy Dialogue” agreed upon by the leaders during Australian Prime Minister Anthony Albanese’s visit to China in July 2025. It reflects the joint commitment to reduce emissions across the iron and steel value chain and the strategic cooperation objectives of both countries in this area.
Under the new policy dialogue, the parties will hold regular discussions on the following topics:
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Roadmaps for decarbonizing the iron and steel value chain
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Development of low-emission steel markets and trade
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Assessment of relevant national policy environments and cooperation opportunities
Considering that iron and steel production accounts for approximately 9% of global emissions, this joint initiative is critical for global efforts to increase low-carbon steel production. Demand for low-emission steel is expected to rise rapidly in the coming decades, making international cooperation increasingly essential.
Australia will host the first meeting of the policy dialogue in 2026. This process is expected to accelerate the development and implementation of decarbonization technologies across the global steel value chain.
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