Several major companies have announced projects to use wood in producing alternatives to industrial coal used in steelmaking, aiming to reduce carbon emissions. This initiative also provides economic value to low-quality wood, transforming underutilized materials into profitable products. The project is receiving widespread attention from both the industrial and environmental sectors due to its sustainability benefits. Wood alternatives contribute to reducing reliance on fossil fuels and mitigating the industry’s impact on the climate. Participating companies have focused on developing wood processing technologies to ensure efficient performance in steelmaking operations. The project also encourages innovation in the use of wood materials and improves the supply chain. This trend is expected to open new markets for wood and boost demand for specific types of wood. It also solidifies sustainability as a key element in heavy industry strategies. Experts predict that this shift will enhance cooperation between the industrial and environmental sectors, and the initiative represents a practical model for how sustainability can be integrated with profitability in traditional industries.