I come back to our final recommendation. The carbon price can't do it by itself. If you want to incentivize decarbonization in the steel sector, you're going to need to provide them with policies that ensure low-carbon electricity—and we know how to do that—and that ensure that there's going to be green hydrogen available. You need first-of-a-kind subsidies, carbon contracts for the difference and tax incentives, all to complement the incentives that you give a carbon tax.
We know how to do this; that's not the problem.
