This study investigates the potential of combined injection of hydrogen as fuel and pulverized charcoal (PCH) in the operation of blast furnaces, aiming to reduce carbon emissions and increase energy efficiency. Through a detailed computational model, we analyzed various operational scenarios with different rates of PCH and hydrogen injection. The results demonstrate that the partial or total replacement of pulverized coal (PC) with PCH can significantly increase blast furnace productivity, reducing coke consumption and carbon emissions. An improvement in internal material distribution and temperature was also observed, with an acceleration in burden descent and a modification in the temperature pattern in the raceway region. Furthermore, it was found that progressive increases in PCH and hydrogen injection can lead to substantial increases in blast furnace productivity, with additional reductions in coke consumption and carbon emissions. These results highlight the potential of combined hydrogen and PCH injection as a viable strategy to promote sustainability and efficiency in the steel industry, aligned with decarbonization and circular economy objectives.