Reducing emissions from steel is crucial for limiting temperature rises. Steel is the largest industrial emitter, contributing about seven per cent of global emissions. If the steel sector were a country, it would rank 5th in the world after China, USA, Europe and India. Keeping temperature rises under control while continuing to meet growing demand means transitioning to a low carbon production process. The sector is technically feasible to decarbonise but a demand from buyers for low carbon steel would help accelerate its low carbon transition. To that end, the new ResponsibleSteel standard provides the industry’s first framework for facilitating a sustainable transition across the value chain. With it, steel producers can now demonstrate to investors and buyers that their activities are certifiably aligned with the goals of the Paris Agreement. This report sets out the solutions to decarbonise steel, introduces the ResponsibleSteel standard, and highlights the financing opportunities.

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