Global steel production is currently dependent on coal and capital-intensive production facilities with long economic lifetimes, whereas the Paris Agreement implies that carbon neutrality must be reached globally by 2050–2070. As far as steel industry is a key provider for many other businesses as construction of buildings, ships, automotive, food and retailing sectors, it is not only significant that nowadays coal-based steel production accounts for around 8% of global energy-related CO2 emissions, but it also stands out for its wide impact on society products. When the whole value chain is considered, it has good recyclability properties, yet still emission reduction remains a challenge. This paper looks to emphasize the direct and indirect benefits provided by cross-sectional technologies such as Industry 4.0 and Internet of Things when applied to the steel production. In particular, this paper emphasizes how technology enables a more accurate accountability for emissions than the averaged figures that are usually considered when these aspects are discussed, and on the other hand how they enable a much higher level of granularity. Such approach could potentially lead to a different business model by considering a fee for the CO2 emissions inside the cost of each product.