Steel Dynamics, Inc., announced that the company supports The Steel Climate Standard. The Steel Climate Standard was published by the Global Steel Climate Council (GSCC) to provide a technology-agnostic global standard to measure and report steel product greenhouse gas (GHG) emissions and provide a science-based target-setting framework to enable the industry to reduce carbon emissions.

In publishing its standard, the GSCC invited interested organizations to review The Steel Climate Standard and submit comments, which are due by May 17, 2023. The full text of the standard and guidelines on submitting comments can be found at: https://globalsteelclimatecouncil.org.

"We are proud to be a founding member of the Global Steel Climate Council," said Mark D. Millett, Chairman and Chief Executive Officer. "Steel is an integral component of the global economy and foundational to the world's essential infrastructure. Specifically, lower-carbon steel is necessary for the transition to a lower-carbon global economy. This new standard will accelerate the actual reduction of greenhouse gas emissions and provide key decisionmakers with transparent and consistent data to make informed decisions. Steel Dynamics is already a leader in producing lower-carbon steel products. We continue to identify decarbonization opportunities, building on our entrepreneurial, innovative spirit."

GSCC's proposed standard is comprised of two main components: (1) product certification criteria that allows customers to know if the steel they are buying is on the glidepath to achieve the goals of the Paris Climate Agreement; and (2) a science-based target-setting framework based on a 1.5°C scenario glidepath for net zero GHG emissions by 2050. The GSCC standard will measure all key GHG emissions from Scope 1, Scope 2 and Scope 3 categories.

"The Steel Climate Standard is a simple and understandable benchmark for reducing the steel industry's greenhouse gas emissions and encourages innovation and investments in lower emission technology," said Jeff Hansen, Vice President Environmental Sustainability and GSCC Board Member. "We are excited to help develop and launch this important standard for the industry, and for the investment and innovation that will surely follow."

 

Source: prnewswire.com

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