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Innovative emission reduction technologies combined with optimized processes can effectively reduce the environmental pressure in the iron and steel industry (ISI). Identifying and comparatively analyzing the carbon emissions (CE) from steel productions is conducive to achieving China's ambitious carbon reduction targets. In this paper, we investigated two innovative routes: the shaft furnace-induction furnace-basic oxygen furnace route (SF-IF-BOF) and shaft furnace-electric smelting furnace-basic oxygen furnace route (SF-ESF-BOF), alongside two traditional routes: the blast furnace-BOF route (BF-BOF) and SF-electric arc furnace route (SF-ESF). The analysis was based on a functional unit of 1000 kg of crude steel (CS). By establishing the mass and energy balance models and decision criteria, 12 typical smelting scenarios for these routes were analyzed and compared in terms of materials consumption and CE. The results showed that increasing the proportion of scrap was beneficial for reducing CE. Under the condition of a 50% scrap ratio, the CE of the SF-IF-BOF, SF-ESF-BOF, BF-BOF, and SF-EAF routes were 768, 823, 946, and 870 kg, respectively. The SF-IF-BOF route displayed the most significant advantage of CE reduction. In addition, by using 100% zero-carbon electricity substitution, the SF-EAF route exhibited the greatest CE reduction effect of 41% (from 870 to 510 kg/t). While deploying 100% biomass fuels to replace coal, the CE of the BF-BOF route reduced by 80%. Finally, after introducing biomass fuels and zero-carbon electricity, the CE of the SF-IF-BOF route was minimized to a significantly low 13 kg/t (from 768), nearing zero CE. This research is expected to provide a novel solution for further CE reduction in the future of ISI, contributing to environmental sustainability and carbon reduction goals. • Suggestions for solutions to reduce CO2 emissions in the steel industry are provided. • Emissions of the SF-IF-BOF and SF-ESF-BOF compared to the BF-BOF and DRI-EAF routes. • DRI is considered to be generated using COG zero reforming process. • Using zero-C electricity and biomass can reduce CO2 emissions for the steel industry. [ABSTRACT FROM AUTHOR]