The ACT Initiative is glad to announce the release of the ACT Iron & Steel methodology!
Steel production is highly energy- and emissions-intensive; among heavy industries, the iron and steel sector ranks first when it comes to CO2 emissions, and second when it comes to energy consumption. The low-carbon transition of the Iron & Steel sector is thus key to achieving the Paris Agreement goal.
The ACT methodology considers steel- or cast iron-making companies, steel-shaping companies, and integrated companies, whatever the percentage of scrap used. The indicators and their weightings vary depending on the type of company and the significance of its upstream indirect emissions, allowing the methodology to be adapted to companies such as stainless-steel producers.
The methodology rewards companies that phase out highly emissive process routes, that participate in industrial symbiosis, and that foster recycling by taking part in increasing scrap collection and recovery.
The methodology was finalized after a process of more than a year: firstly, drafting the methodology with the support of a technical working group composed of experts and stakeholders from the sector; secondly, experimenting with volunteer companies and taking into account feedback to improve the methodology; and finally, a quality assurance process.