Near-Zero and Low-Emissions Steel represent the first globally harmonized benchmarks for industrial decarbonization. Established by the International Energy Agency (IEA) at the request of the G7, these definitions replace vague "green" claims with a rigorous, science-based "common language" for the global steel trade.

The standards classify steel by carbon intensity using a Sliding Scale that considers scrap usage, encouraging innovation in both primary (iron ore) and secondary (recycling) production.