SteelZero, a global initiative aimed at driving market demand for net zero steel has launched with support from eight major steel buyers and specifiers from across sectors including construction and renewable energy. This marks the beginning of a significant global business push for clean steel, with the first companies to have signed up to SteelZero entailing:
BHC Ltd – Leading UK structural steel fabrication and Construction Company
Bourne Group Ltd – Leading UK constructional steelwork company
Grosvenor Britain & Ireland – International property investor and developer
Lendlease – Multinational construction, property and Infrastructure Company
Mace Group – Global consultancy and construction firm
Multiplex Construction Europe – international construction contractor
Orsted – Renewable Energy Company and global leader in offshore wind
WSP UK - Engineering professional services consulting firm
Run in partnership with ResponsibleSteel, the new initiative comes from international non-profit the Climate Group, which has already seen success in delivering multinational campaigns that build corporate demand for renewables RE100 and electric vehicles EV100. RE100 members are driving enough renewable electricity demand to power a G20 country like Indonesia, and EV100 members have committed over 5 million EVs to being on roads by 2030.
In the case of SteelZero, organisations are required to make a public commitment to transition to procuring, specifying or stocking 100% net zero steel by 2050. Targeting net zero steel from the demand-side of the supply chain makes this initiative the first of its kind, with the potential for it to have significant impact on investment, policy, manufacturing and production in the sector.
Steel is the world’s most widely used material, with the sector selling over USD 2 trillion worth of products annually. But despite technologies existing for production to be decarbonised, steelmaking is currently one of the biggest emitters of CO2 globally. Total greenhouse gas emissions from the sector alone account for 7%-9% of direct emissions from the global use of fossil fuels , and this is set to rise significantly with end-use demand for steel projected to grow by almost 40% by 2050 .