23 MAY 2021, London – A new policy paper released today sets out steps governments must take to support the steel industry in its drive to achieve net zero emissions. The position was laid out by SteelZero, a global initiative led by international non-profit Climate Group in partnership with ResponsibleSteel.
The policy paper will be a key tool for SteelZero members, such as A.P. Moller- Maersk, Lendlease and Ørsted, and the wider business community, to advocate for the changes that they need from the steel industry to enable a rapid transition to the production and supply of net zero steel.
Jen Carson, Head of Industry of Climate Group, said: “The business voice is strong on what needs to be addressed to decarbonise the steel industry. From the need to clarify what’s considered low emission steel to enhanced coordination between private and public sector procurement, there isn’t a one size fits all solution. This policy position highlights six key principles to accelerate the net zero transition of the steel industry. If widely implemented, this will mobilise the systemic change that’s needed and support businesses in meeting their net zero steel targets by 2050.”
The paper calls on government decision makers to:
- Promote a global standard and definition on what low emission and net zero steel is
- Support the public sector in using low emission and net zero steel in current and future projects
- Get businesses to measure and report on the carbon emissions associated with the steel they use
- Encourage better use of steel in the first place while ensuring that steel can be easily recycled
- Set expectations on what’s needed from steelmakers to drastically cut carbon emissions
- Create a level playing field for net zero steel in global markets
These positions, and the steps required to achieve them, will be discussed at the first of its kind SteelZero summit on 31 May in Copenhagen, hosted by founding member Ørsted.
Mads Nipper, CEO of Ørsted, said: "On behalf of Ørsted, I’m excited to see the launch of SteelZero’s global policy position. Governments now need to pull multiple levers to accelerate steel decarbonisation and must match policy action with growing demand-side ambition. This can help build access to a critical supply of green steel that allows companies to meet their climate goals in the coming decade. And it can help unlock future net-zero supply chains in the renewable energy sector. At Ørsted, we look forward to using our insights from the forefront of climate action to drive these collective efforts with SteelZero."
SteelZero members make a public commitment to procure 100% net zero steel by 2050, with an interim commitment of using 50% responsibly produced steel by 2030. By harnessing the collective purchasing power and influence of its members, SteelZero is shifting global markets and policies towards the responsible production and sourcing of steel.
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Notes to Editors
About Climate Group
Climate Group drives climate action. Fast. Our goal is a world of net zero carbon emissions by 2050, with greater prosperity for all. We focus on systems with the highest emissions and where our networks have the greatest opportunity to drive change. We do this by building large and influential networks and holding organisations accountable, turning their commitments into action. We share what we achieve together to show more organisations what they could do. We are an international non-profit organisation, founded in 2004, with offices in London, New Delhi and New York. We are proud to be part of the We Mean Business coalition. Follow us on Twitter @ClimateGroup.
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants. Moreover, Ørsted provides energy products to its customers. Ørsted is the only energy company in the world with a science-based net-zero emissions target as validated by the Science Based Targets initiative (SBTi). Ørsted ranks as the world’s most sustainable energy company in Corporate Knights' 2022 index of the Global 100 most sustainable corporations in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs 6,836 people. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2021, the group's revenue was DKK 77.7 billion (EUR 10.4 billion).
SteelZero is a global initiative bringing together forward-looking organisations to speed up the transition to a net zero steel industry. Led by international non-profit the Climate Group in partnership with ResponsibleSteel, organisations that join SteelZero make a public commitment to procure, specify or stock 100% net zero steel by 2050. By harnessing their collective purchasing power and influence, SteelZero is sending a strong demand signal to shift global markets and policies towards responsible production and sourcing of steel. #SteelZero
