ResponsibleSteel Launches International Standard V2.0
Strategic Research Institute
Published on :
15 Sep, 2022, 6:40 am
After almost three years of collective commitment from the giants of the steel industry and leading NGOs, has launched its new International Standard V2.0, with tough new additional requirements on both climate and responsible sourcing, after they were adopted with the support of 96% of our membership vote. As the world grapples with the impact of climate change, the new ResponsibleSteel Standard, launched today, focuses more deeply than ever before on reducing GHG emissions and now enables buyers of steel for the first time to specify what green procurement means in a credible way.
For the first time, steelmakers will be able to gain credible recognition in the market for the progress they make, both on decarbonisation and on driving sustainability through their supply chains,, because they have been independently certified against a common, agreed, international standard. Buyers of steel can specify it in what they ask of their suppliers. So too can those who finance the industry and the costly transition to come.
V2.0 will be challenging to implement as the revised standard now includes 13 Principles, 61 Criteria and over 500 individual requirements. This robustness, and our growing Assurance Programme are what lend ResponsibleSteel credibility both in the market and in the wider ESG world. And we will strengthen these further, continually growing our membership to bring everyone involved in, continually working to ensure the Standard is fit for the entire global industry, and continually building our Assurance Programme.
Leading steel companies including ArcelorMittal, Tata Steel, US Steel, thyssenkrupp, POSCO, BlueScope, and voestalpine worked with others along the steel value chain to support the standard’s development, as well as leading environmental NGOs the Climate Group, Ceres, the Clean Air Task Force, We Mean Business, and Mighty Earth.