The iron and steel industry has played a large part in global industrialization and now accounts for about 7% of global anthropogenic CO₂ emissions. As thorough progress has already been made in minimizing the carbon footprint through process optimization efficiency increases, further emissions reductions could be achieved through carbon capture and sequestration (CCS). In an analysis of existing production capacity around the globe, most production facilities will likely continue to run in the coming decades, presenting an opportunity to install retrofit CCS technologies onto existing plants, like absorption and oxyfuel top gas recycling. More advanced CCS technologies such as hydrogen direct reduction and smelting reduction should be installed within the upcoming production plants being constructed. Current international initiatives like ULCOS and HYBRIT, evolving government policies and incentives, and pilot projects are helping to improve process economics and shedding light on industrial viability.