The GSCC develops new standard to measure and report carbon emissions in the steel industry
The Global Steel Climate Council (GSCC) has released The Steel Climate Standard – a global standard to measure and report carbon emissions in the global steel industry.
The Steel Climate Standard aims to establish a single, process-agnostic standard and mandate science-based emission targets for steel manufacturers globally. In contrast to other proposals that consider a "ferrous scrap usage sliding scale," the GSCC says that The Steel Climate Standard is ambitious, auditable, inclusive, and transparent.
"Creating a dual standard would allow high-carbon emissions steel to be prioritized over lower-carbon steel. This would serve to discourage innovation and allow high-carbon steelmakers to postpone making changes in their production process," says Greg Murphy, chair of the GSCC and executive vice president of business services and general counsel at Nucor Corporation, a founding member of the GSCC.
The Steel Climate Standard aims to:
- Provide a single, technology-agnostic framework for steel product certification and science-based emissions target-setting that applies equally to all steel producers globally.
- Enable steel customers to make informed choices by knowing the carbon emissions associated with the steel products they purchase.
- Align with the Paris Climate Agreement's emissions reduction goals by 2050.
"I'm proud that this standard was designed through a collaboration of steel companies and associations from around the world. It will guide all steel manufacturers worldwide toward decarbonization. It can also guide governments, steel customers, and other stakeholders to encourage policies and practices that support this pivotal path to net zero," says Leon Topalian, chair, president, and chief executive officer of Nucor.