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June 2007

International steel industry commits to reduce CO2

The International Iron and Steel Institute (IISI) has challenged governments to work with the steel industry to develop new and imaginative approaches to climate change in the post-Kyoto period.

In a new policy statement on CO2 and Climate Change, members of the Board of IISI called on governments to replace cap and trade emission regimes with new policies that allow efficient companies to grow and the least efficient to decline. IISI is asking governments to work with the industry to develop and adopt a sector-specific framework that involves all of the major steel-producing countries in the world. The framework encourages the phase-out of obsolete technologies.

Policymakers are also asked to support the steel industry’s long-term research initiatives for radical new technology solutions which will further reduce CO2 emissions. Governments are requested to develop policies that encourage the demonstration of these innovative technologies.

Governments are also asked to engage with industry to develop reporting procedures. These reporting procedures will demonstrate that the voluntary programs, to which the steel industry is committed, are delivering the improvements sought.

The Steel Industry’s Commitment

The new policy contains a commitment from the steel industry itself to take positive action to achieve further reductions in greenhouse gas emissions and to combat climate change. The industry will demonstrate this commitment by:

  • Promoting the wider implementation of the most efficient technologies used in modern steelmaking sites.
  • Undertaking research and development into new technology solutions which will radically reduce the level of CO2 emissions into the atmosphere for each ton of steel produced.
  • Maximizing both the recycling and re-use of end-of-life steel, and the value of steel industry by-products.
  • Accounting for and reporting on a common basis the industry’s CO2 emissions and its progress on reaching its targets over time.

The steel industry will also work in partnership with its customers to encourage the use of a new generation of high strength steels which will improve the energy efficiency of steel-using products.

The Board of IISI also challenges their own members, and other steel companies to play their part by working together through IISI and other regional frameworks to share information and best practice.

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