Iberdrola and Vattenfall, along with Siemens Gamesa, have announced their commitment to 100% net zero steel.
The companies are joining the international initiative SteelZero, led by Climate Group in partnership with Responsible Steel.
All have set interim targets of using 50% low emission steel by 2030, setting a clear pathway to being net zero by 2050.
SteelZero brings together businesses to speed up the net zero transition of the steel industry.
By harnessing the collective purchasing power and influence of its members, SteelZero sends a strong demand signal to shift global markets and policies towards responsible production and sourcing of steel.
Iberdrola and Vattenfall BA Wind are both “significant players” in the renewable energy sector as providers of offshore and onshore wind power.
Siemens Gamesa builds, develops and supplies wind turbines for businesses like Iberdrola and Vattenfall.
By joining, these businesses are ensuring the materials used in the production of renewable energy infrastructure are aligned with a zero carbon world.
Volvo has also joined the initiative.
Jen Carson, head of industry at Climate Group, said: “This group of businesses from two highly influential sectors committing to SteelZero, marks a significant step change in the demand signal for low emission and net zero steel.
“Both renewable energy and automotive sectors play a key role in driving the net zero transition. In doing so they’re supporting the creation of a decarbonised steel market that can enable each sector to meet their net zero targets.”
Francisco Laveron, head of energy prospective, innovation and sustainability at Iberdrola, added: “Iberdrola is investing billions of euros in renewable energy, smarter grids and energy storage to support global net zero ambitions through electrification of the economy.
“We are also committed to finding green solutions for the hard to abate sectors, and we are at the forefront of developing new concepts such as green hydrogen.
“We look forward to collaborating with the other members of SteelZero, and to help establish alliances and a roadmap that leads to a zero emissions future for the production of steel.”
The new members join a group of forward-looking businesses, such as Maersk, Orsted and Lendlease, that are committed to driving demand for low emission and net zero steel from across all sectors.