The article highlights the imperative need to decarbonize the iron and steel sector, which currently accounts for a significant portion of global greenhouse gas emissions. To achieve net zero targets, the International Energy Agency stresses the necessity of halving CO2 emissions by 2030. Green hydrogen and electric technologies are at the forefront of efforts to transition to fossil-free steel production, with innovations such as direct reduced iron and electric arc furnaces showing promise in reducing emissions. The article discusses the growing number of iron and steel firms setting emissions reduction targets through initiatives like the Science Based Targets, indicating a positive trend towards sustainability. However, the absence of key industry players in these commitments underscores the challenges in achieving widespread decarbonization. Policy changes, investments, and access to clean energy are highlighted as essential elements in driving the shift towards greener steel. The estimated $1 trillion cost of decarbonizing the sector necessitates substantial support from governments and incentives for companies to adopt cleaner practices. The article also delves into the competition between different technologies, such as using green hydrogen or electricity directly, to produce near emissions-free steel, showcasing the industry's rapid technological advancements. The global landscape of green steel production is evolving, with companies in Europe, Australia, Sweden, and Spain pioneering projects to produce clean steel using renewable resources like solar and hydropower. Initiatives like the Carbon Border Adjustment Mechanism (CBAM) in Europe are influencing global industrial policies towards decarbonization. Overall, the article portrays a positive sentiment towards the transformative potential of green steel technologies in reshaping the iron and steel sector and addressing climate change challenges.