As world leaders prepare to gather in Davos next week for the World Economic Forum, ResponsibleSteel has signed a MoU with the Sustainable STEEL Principles Association, a huge and positive step toward harmonization and greater collaboration between the two organisations paving the way for the facilitation of the faster decarbonisation of steel. Both the SSPA and ResponsibleSteel have pragmatic and expert pathways towards rapid sustainability. The SSP provide a framework for banks to assess the decarbonization of the steel companies within their portfolios, as well as the climate alignment of their steel lending portfolio. ResponsibleSteel provides an international standard for steel sites to be certified against. Steel decarbonization has come under the spotlight recently at global leaders’ meetings, for example COP26 and COP 27, which is right given the significant contribution of the industry to global greenhouse gas emissions. Amidst the proliferation of initiatives now focusing on steel decarbonization, this MoU signals a clear recognition that more work must be done to avoid a divergence of standards and work towards alignment, where possible. Much analysis and scrutiny has gone into understanding the dynamics of the steel sector in the development of both the new ResponsibleSteel GHG requirements and those of the Sustainable STEEL Principles. The SSPA and ResponsibleSteel have now signaled a continuing desire to cooperate in the interest of complementarity between standards. In addition to this MoU, ResponsibleSteel is setting up a Finance Working Group with key voices from the steel industry, global finance, investment and civil society. Its goal will be to facilitate dialogue including benchmarking carbon requirements within the ResponsibleSteel Standard and certification programme in order to facilitate capital flows to meet decarbonization requirements. The initial round of discussion will start this month and the FWG hopes to report on its recommendations by December 2023.As world leaders prepare to gather in Davos next week for the World Economic Forum, ResponsibleSteel has signed a MoU with the Sustainable STEEL Principles Association, a huge and positive step toward harmonization and greater collaboration between the two organisations paving the way for the facilitation of the faster decarbonisation of steel. Both the SSPA and ResponsibleSteel have pragmatic and expert pathways towards rapid sustainability. The SSP provide a framework for banks to assess the decarbonization of the steel companies within their portfolios, as well as the climate alignment of their steel lending portfolio. ResponsibleSteel provides an international standard for steel sites to be certified against. Steel decarbonization has come under the spotlight recently at global leaders’ meetings, for example COP26 and COP 27, which is right given the significant contribution of the industry to global greenhouse gas emissions. Amidst the proliferation of initiatives now focusing on steel decarbonization, this MoU signals a clear recognition that more work must be done to avoid a divergence of standards and work towards alignment, where possible. Much analysis and scrutiny has gone into understanding the dynamics of the steel sector in the development of both the new ResponsibleSteel GHG requirements and those of the Sustainable STEEL Principles. The SSPA and ResponsibleSteel have now signaled a continuing desire to cooperate in the interest of complementarity between standards. In addition to this MoU, ResponsibleSteel is setting up a Finance Working Group with key voices from the steel industry, global finance, investment and civil society. Its goal will be to facilitate dialogue including benchmarking carbon requirements within the ResponsibleSteel Standard and certification programme in order to facilitate capital flows to meet decarbonization requirements. The initial round of discussion will start this month and the FWG hopes to report on its recommendations by December 2023.
As world leaders prepare to gather in Davos next week for the World Economic Forum, ResponsibleSteel has signed a MoU with the Sustainable STEEL Principles Association, a huge and positive step toward harmonization and greater collaboration between the two organisations paving the way for the facilitation of the faster decarbonisation of steel. Both the SSPA and ResponsibleSteel have pragmatic and expert pathways towards rapid sustainability. The SSP provide a framework for banks to assess the decarbonization of the steel companies within their portfolios, as well as the climate alignment of their steel lending portfolio. ResponsibleSteel provides an international standard for steel sites to be certified against. Steel decarbonization has come under the spotlight recently at global leaders’ meetings, for example COP26 and COP 27, which is right given the significant contribution of the industry to global greenhouse gas emissions. Amidst the proliferation of initiatives now focusing on steel decarbonization, this MoU signals a clear recognition that more work must be done to avoid a divergence of standards and work towards alignment, where possible. Much analysis and scrutiny has gone into understanding the dynamics of the steel sector in the development of both the new ResponsibleSteel GHG requirements and those of the Sustainable STEEL Principles. The SSPA and ResponsibleSteel have now signaled a continuing desire to cooperate in the interest of complementarity between standards. In addition to this MoU, ResponsibleSteel is setting up a Finance Working Group with key voices from the steel industry, global finance, investment and civil society. Its goal will be to facilitate dialogue including benchmarking carbon requirements within the ResponsibleSteel Standard and certification programme in order to facilitate capital flows to meet decarbonization requirements. The initial round of discussion will start this month and the FWG hopes to report on its recommendations by December 2023.As world leaders prepare to gather in Davos next week for the World Economic Forum, ResponsibleSteel has signed a MoU with the Sustainable STEEL Principles Association, a huge and positive step toward harmonization and greater collaboration between the two organisations paving the way for the facilitation of the faster decarbonisation of steel. Both the SSPA and ResponsibleSteel have pragmatic and expert pathways towards rapid sustainability. The SSP provide a framework for banks to assess the decarbonization of the steel companies within their portfolios, as well as the climate alignment of their steel lending portfolio. ResponsibleSteel provides an international standard for steel sites to be certified against. Steel decarbonization has come under the spotlight recently at global leaders’ meetings, for example COP26 and COP 27, which is right given the significant contribution of the industry to global greenhouse gas emissions. Amidst the proliferation of initiatives now focusing on steel decarbonization, this MoU signals a clear recognition that more work must be done to avoid a divergence of standards and work towards alignment, where possible. Much analysis and scrutiny has gone into understanding the dynamics of the steel sector in the development of both the new ResponsibleSteel GHG requirements and those of the Sustainable STEEL Principles. The SSPA and ResponsibleSteel have now signaled a continuing desire to cooperate in the interest of complementarity between standards. In addition to this MoU, ResponsibleSteel is setting up a Finance Working Group with key voices from the steel industry, global finance, investment and civil society. Its goal will be to facilitate dialogue including benchmarking carbon requirements within the ResponsibleSteel Standard and certification programme in order to facilitate capital flows to meet decarbonization requirements. The initial round of discussion will start this month and the FWG hopes to report on its recommendations by December 2023.
