The metal sector has attracted attention as one of biggest carbon emitters, prompting producers to increasingly set decarbonization targets. Nonetheless, steel and aluminum production remains dominated by relatively high-emission processes. Metal companies could achieve near-term decarbonization goals with increased use of scrap and direct reduced iron (DRI) technologies (though these are constrained by raw materials availability), efficiency improvements, and renewable energy adoption. Longer-term decarbonization prospects are less certain given that large scale implementation of new technologies will be difficult. For example, industrial-scale green hydrogen production will be costly and require vast renewable energy capacity. The sector is subject to carbon-related regulations and Europe, in particular, is implementing increasingly stringent policies. An inconsistent global regulatory environment could add uncertainty to metal companies' investment plans.