Outokumpu, a prominent player in the steel industry, has unveiled a pioneering initiative called Outokumpu Inner Circle, designed to strengthen the circular economy in Europe. The announcement was made at the World Circular Economy event held in Helsinki, Finland. The Inner Circle initiative marks a significant step forward by bringing transparency to supply chains, facilitating the seamless conversion of stainless steel into usable scrap, and promoting sustainable stainless steel production. It aims to establish a closed loop for steel scrap, setting a precedent for the industry.Max Menzel, Head of Sustainability & Technical Customer Service at Outokumpu, emphasized the importance of circularity in sustainable stainless steel production. Through the Inner Circle initiative, Outokumpu aims to foster an efficient, transparent, and sustainable supply chain for steel scrap by bringing together customers and scrap suppliers. The ultimate goal is to create a visible closed loop for steel, serving as a prime example of the circular economy in action.The initiative focuses on utilizing existing, efficient supply chains to shorten the path for scrap from customers back to producers. To ensure transparency and adherence to environmental, social, and governance (ESG) standards, all partners involved in the initiative will undergo verification.Outokumpu's role in the Inner Circle initiative is to steer the program and establish networks between customers and verified scrap suppliers. The scrap suppliers, in turn, play a crucial role in ensuring a sustainable supply chain by providing scrap from the network's partners and distributing it in an environmentally friendly manner. Customers participating in the program will reintroduce their scrap into the cycle either after processing the material or at the end of the product's life cycle through the scrap suppliers.Outokumpu Inner Circle is an open initiative, welcoming scrap suppliers and stainless steel consumers from Europe to participate. The early phase of the initiative will focus on establishing best practices and fostering cooperation. The overwhelming interest received thus far
Outokumpu, a prominent player in the steel industry, has unveiled a pioneering initiative called Outokumpu Inner Circle, designed to strengthen the circular economy in Europe. The announcement was made at the World Circular Economy event held in Helsinki, Finland. The Inner Circle initiative marks a significant step forward by bringing transparency to supply chains, facilitating the seamless conversion of stainless steel into usable scrap, and promoting sustainable stainless steel production. It aims to establish a closed loop for steel scrap, setting a precedent for the industry.Max Menzel, Head of Sustainability & Technical Customer Service at Outokumpu, emphasized the importance of circularity in sustainable stainless steel production. Through the Inner Circle initiative, Outokumpu aims to foster an efficient, transparent, and sustainable supply chain for steel scrap by bringing together customers and scrap suppliers. The ultimate goal is to create a visible closed loop for steel, serving as a prime example of the circular economy in action.The initiative focuses on utilizing existing, efficient supply chains to shorten the path for scrap from customers back to producers. To ensure transparency and adherence to environmental, social, and governance (ESG) standards, all partners involved in the initiative will undergo verification.Outokumpu's role in the Inner Circle initiative is to steer the program and establish networks between customers and verified scrap suppliers. The scrap suppliers, in turn, play a crucial role in ensuring a sustainable supply chain by providing scrap from the network's partners and distributing it in an environmentally friendly manner. Customers participating in the program will reintroduce their scrap into the cycle either after processing the material or at the end of the product's life cycle through the scrap suppliers.Outokumpu Inner Circle is an open initiative, welcoming scrap suppliers and stainless steel consumers from Europe to participate. The early phase of the initiative will focus on establishing best practices and fostering cooperation. The overwhelming interest received thus far
