Global Steel Climate Council Issues Statement Ahead of G7

G7 leaders were encouraged by the IEA to focus on the five existing standards for emissions measurement methodologies, despite acknowledging the need for the standards to be amended, according to the statement. The organization agrees that the most effective path for change is a single, global standard and clear methodology.

GSCC has announced that it will release a draft of its steel emissions standard. The release date for the report was not specified.  

“GSCC’s standard has three important objectives: 1) provide a single, technology-agnostic protocol that would apply to all steel producers equally on a global basis; 2) allow all steel customers to know and compare the carbon emissions associated with steel products; and 3) create an industry standard for achieving the emissions reduction goals in the Paris Climate Agreement by 2050,” the council said in the April 13 statement.

Recall the GSCC is an international initiative with the goal of setting a global standard for green steel, and a cleaner steel industry. More information about the GSCC can be found here.

By Becca Moczygemba, becca@steelmarketupdate.com