Published by Todd Bush on April 26, 2023
CHARLOTTE, N.C., April 26, 2023 /PRNewswire/ -- A coalition of steel companies and industry partners founded by Nucor Corporation (NYSE: NUE) and five other organizations released for comment today a draft global standard to measure and report carbon emissions from steel companies. The Steel Climate Standard, which was developed by the Global Steel Climate Council (GSCC), offers a single, technology-neutral protocol that would apply equally to all steel producers globally.
>> In Other News: Energy Recovery Awarded Over $8 Million in Desalination Contracts in Chile
"Nucor is one of the cleanest steel producers in the world and the North American leader in reducing greenhouse gas emissions in the steel industry," said Leon Topalian, Chair, President and Chief Executive Officer of Nucor Corporation. "Using a single standard that is ambitious, auditable, inclusive and transparent is needed to accelerate further greenhouse gas emission reductions in our industry and to drive investment in lower emission technology."
Nucor produces steel by recycling scrap metal in electric arc furnaces (EAF), also known as circular steelmaking, a process that has a greenhouse gas emissions (GHG) intensity that is less than half the global average and one-third of the average blast furnace steel producer. Last year, the Company achieved its lowest Scope 1, 2 and 3 GHG intensity in company history. Nucor was the first steel company in North America to report Scope 3 emissions.
"The bottom line is that customers using steel from a recycled source are choosing to reduce the world's greenhouse gas emissions by a factor of two to four," said Greg Murphy, Executive Vice President of Business Services and General Counsel at Nucor Corporation, and Chair of the GSCC. "We have competitors making investments now to reduce their emissions in the future to levels Nucor already achieves today."
There are several organizations and companies proposing global emissions standards for the steel industry, in addition to GSCC. Some of these proposals include applying different standards for blast furnace steel producers and EAF steel producers. A dual standard that favors higher-emitting extractive steelmaking technology at the expense of lower embodied carbon steel would delay making meaningful emission reductions in the steel sector.
"Steel is a critical material for our infrastructure, automotive, energy systems and overall economy. The technology exists today to make significant reductions in global emissions from the steel industry, and Nucor is living proof of this," said Murphy. "That is why we believe it is common sense to use a single steel standard that is focused on actual embodied carbon emissions and does not favor one technology over another."
Nucor is a founding member of the GSCC, which is comprised of steel manufacturers, associations and other organizations in the steel supply chain that have a presence in 79 countries around the world. To review the standard and make comments please visit https://globalsteelclimatecouncil.org.
>> In Company Spotlight: Nucor Corp
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company and its affiliates, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.
SOURCE Nucor Corporation
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue ⚡ The Energy Source That Could Survive Trump’s Attack on California’s Green Ambitions 🌍 Carbon Business Council Expands European Footprint to Support the Continent’s Carbon Remov...
Inside This Issue 💥 North America's $170B Hydrogen Surge: Why 2025 is the Tipping Point ⚙️ First Centrifugal on Board Carbon Capture System Launches 🌾 AgriCapture Rice Methane Reduction Project R...
Inside This Issue 🏭 Baker Hughes to Acquire Chart Industries, Accelerating Energy & Industrial Technology Strategy ⛽ Next Hydrogen Launches Ontario’s Largest Onsite Clean Hydrogen Refuelling S...
The Energy Source That Could Survive Trump’s Attack on California’s Green Ambitions
Hydrogen is a growing yet controversial source of energy that some see as key to California’s ambitious climate goals. A new project in Vernon will be one of the largest hydrogen production-and-d...
As carbon removal (CDR) progresses from start-up to scale-up phase, Europe has emerged as one of the most ambitious and fast-moving regions in the world Most recently, the EU announced it will inc...
RYAM and GranBio Sign MOU to Explore Cellulosic SAF Project at Jesup Facility
JACKSONVILLE, Fla. - Rayonier Advanced Materials Inc. (NYSE: RYAM) (the “Company” or “RYAM”), the global leader in cellulose specialty products, announced today the signing of a Memorandum of Under...
The following statement may be attributed to Jessie Stolark, executive director of the Carbon Capture Coalition (the Coalition), a non-partisan collaboration of companies, labor unions, and NGOs bu...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.