The ResponsibleSteel accreditation coalition has released a new set of environmental, social, and governance standards to help the industry meet its long-term sustainability goals, Kallanish learns from an organisation release.
The revised and more stringent standards will “provide leaders in the steel industry with an immediate opportunity to showcase how they are driving down emissions, whilst tackling other urgent issues such as the impact of mining, water use, labour rights, air pollution, and diversity,” ResponsibleSteel says.
The coalition has so far certified 41 steelmaking sites on four continents, representing about 48 million tonnes of production out of the total global production of about 1.8 billion tonnes. Another roughly 50mt of production is currently under audit and awaiting certification.
Flagship members include ArcelorMittal, Bluescope, POSCO, Tata Steel, thyssenkrupp, US Steel and voestalpine.
Global steel industry CO2 emissions must fall by at least 90% by 2050 to hold global warming at 1.5 C, ResponsibleSteel says, citing the International Energy Agency.
“Time is short, in other words, and for the industry to be on track this will require substantial emissions reductions within this decade,” it says.
ResponsibleSteel ceo Annie Heaton adds that the new standards come at an historic political and market juncture.
“ResponsibleSteel’s new international standard comes at a critical time, with the unfolding energy crisis alongside the climate crisis only magnifying the need for a global scale transition to a decarbonised economy,” she says. “The standard enables anyone that’s either buying or making steel to demonstrate they are not only driving down emissions, but also thinking responsibly about impacts on people and nature right across the value chain.”
Dan Hilliard USA