Opposing greenwashing of coal-based steel using ‘mass balance’ accounting
30 civil society organisations - including ECOS - have signed this open letter with a shared vision of achieving a decarbonised global steel industry as part of a thriving zero emissions society.
Together, the signatories call for the establishment of markets for genuine low emissions steel products based on credible definitions and accounting methodologies.
Key asks include:
- Independent standard-setting bodies and governments to only recognise credible low emissions steel in their standards and to reject undue influence by steelmakers in weakening these standards;
- Steel buyers not to pay premiums for so-called ‘mass balance’ steel but rather encourage the production of physically low emissions steel.
Low emissions steel production is feasible today, but purchasing commitments are needed to unlock final investment decisions and bring production to scale.
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