The steel industry is a major contributor to global greenhouse gas (GHG) emissions, accounting for approximately 7% of worldwide emissions. As steelmakers in the EU invest heavily in decarbonisation, the success of these efforts hinges on the market’s ability to differentiate and reward low-carbon emissions steel production. In response, multiple initiatives and standards have emerged to define "low-carbon emissions steel" and set corresponding emissions thresholds. However, the lack of a unified definition and harmonised criteria presents significant challenges for policymakers, industry stakeholders, and investors alike.