Major Corporations Collaborate to Foster the First Batch of Sustainable Steel in the U.S.
Led by RMI, the Sustainable Steel Buyers Platform allows corporate leaders to engage in a collective procurement of the first near-zero emissions steel produced in North America this decade.
The company stands as a premier supplier of platform steel. We are your comprehensive solution for all requirements, with a highly-specialized team ready to assist in finding the right product.
New York, NY &#; September 20,
Top corporations such as Microsoft, Nextracker, and Trammell Crow Company have announced their collaboration to facilitate the procurement of initial batches of near-zero emissions steel in North America through the Sustainable Steel Buyers Platform, established by the clean energy nonprofit RMI (formerly known as Rocky Mountain Institute).
The platform is set to initiate a competitive procurement process that will be available to all steel manufacturers, aiming to source sustainable steel for North America later this year. Membership within the platform seeks to generate a collective request for as much as 2 million tons of near-zero emissions steel, with today's information request process aimed at engaging steelmakers to identify the conditions required for such production.
&#;We are excited to collaborate with RMI and our supply chain partners. This pioneering procurement platform will support our efforts in developing low-carbon steel solutions. Such collaboration is crucial for achieving our carbon-negative targets and aiding the global shift toward sustainability,&#; shared Julia Fidler, the decarbonization lead for fuels and materials at Microsoft.
&#;Being the leading commercial development firm in the U.S., Trammell Crow Company is intensely focused on reducing embodied carbon throughout our operations. We are honored to endorse the Sustainable Steel Buyers Platform, enhancing our efforts as well as those of all utilizing steel in their products,&#; stated James Murray-Coleman, sustainability director at Trammell Crow Company.
Colloquially known as &#;green steel&#;, near-zero emissions steel necessitates a technological shift from traditional production methods to processes where emissions are captured or eliminated through mechanisms like electrification or utilizing renewable hydrogen. Presently, steel is produced through carbon-heavy techniques that rely on coal or natural gas, contributing to 7% of global carbon dioxide emissions today.
&#;Due to ambitious corporate climate pledges from the Platform's partners, if U.S. corporate demand for sustainable steel is efficiently pooled this decade, it could signal enough interest to prompt the investment decisions for three near-zero emissions steel plants in the U.S. before &#;, stated Thomas Koch Blank, managing director at RMI.
The demand for green steel is projected to rise to 6.7 megatons annually by the end of this decade as companies endeavor to meet their climate goals via investments in sustainable construction and clean manufacturing of steel-heavy goods. Opting for near-zero emissions steel over traditional fossil fuel-intensive steel could lead to a nearly 30% reduction in the lifecycle emissions of vehicles and an approximate 80% reduction for energy infrastructure.
&#;As the leading provider of solar tracking systems for large-scale solar energy projects globally, we hold the responsibility to deeply understand our carbon footprint,&#; remarked Nicolas Brion, senior steel sourcing director of Nextracker. &#;Since our inception, our company has taken action, and that commitment will not waver. We eagerly anticipate participating in RMI’s Sustainable Steel Buyers Platform to hasten the decarbonization of our supply chain.&#;
To maintain strict transparency throughout the joint procurement endeavor, the Platform will expand on RMI's initiatives to develop product-level emissions guidance in collaboration with the World Business Council for Sustainable Development (WBCSD), alongside reporting standards from the financial sector for the Sustainable STEEL Principles.
RMI has effectively launched similar projects aimed at decarbonizing the aviation sector, prompting key supply chains into activity. By uniting major corporations through the Sustainable Aviation Buyers Alliance, RMI is advocating the use of sustainable aviation fuel to minimize the climate impact of air travel.
The Platform represents the inaugural buyers' consortium in North America, designed specifically for the collective procurement of green steel. This initiative offers U.S. buyers a pathway to meet their sustainability objectives while facilitating the decarbonization of the iron and steel sector, coinciding with the unveiling of the First Movers Coalition’s Near-Zero Steel Challenge at New York Climate Week. Partnering with the leading certification organization, ResponsibleSteel, both initiatives aim to gauge demand and engage suppliers to hasten the transition to clean supply chains.
&#;Since its inception in Glasgow at COP26, the First Movers Coalition has signaled a $15 billion demand for innovative clean technologies and energy solutions. We are excited to collaborate with Greenhouse, an innovation platform based in Australia, to introduce the global Near-Zero Steel Challenge and ascertain the necessary supply sources to fulfill that demand,&#; expressed Nancy Gillis, program head at the First Movers Coalition. &#;Suppliers who respond to this Challenge will have the chance to pre-qualify for U.S.-focused procurement of near-zero steel led by RMI. Integrating a specific procurement opportunity into the Challenge highlights FMC’s commitment to converting intention into action and merging the two initiatives will substantially accelerate the advancement of clean technologies in the steel sector.&#;
Revitalizing the domestic steel industry through sustainable steel production offers numerous advantages. Establishing local production of near-zero emissions steel is pivotal for U.S. supply chain resilience, enhancing the nation’s trade balance and facilitating infrastructure reinvestment while minimizing climate-related impacts. These initiatives can generate skilled industrial jobs and foster local investments, rejuvenating traditional steel manufacturing regions like the U.S. Midwest and creating new opportunities in areas heavily investing in renewable energy development.
For Media Inquiries, Please Contact:
Alexandra Wall, Strategic Communications Manager, T: +52 55 , E:
Editorial Notes
About RMI
Founded as Rocky Mountain Institute, RMI is an independent nonprofit established in that aims to transform global energy frameworks through market-driven solutions to align with a 1.5°C future and assure a clean, prosperous, zero-carbon world for all. Our operations span critical global regions, collaborating with businesses, policy-makers, communities, and NGOs to pinpoint energy interventions capable of reducing greenhouse gas emissions by at least 50% by . Find more information about RMI at www.rmi.org or follow us on LinkedIn @RMI.
About the First Movers Coalition
The First Movers Coalition (FMC) stands as the World Economic Forum's flagship decarbonization initiative, leveraging the purchasing power of organizations to decarbonize seven 'hard-to-abate' industrial sectors that currently comprise 30% of global emissions: Aluminium, Aviation, Chemicals, Concrete, Shipping, Steel, and Trucking; whilst enhancing the adoption of innovative Carbon Removal Technologies.
Comments
Please Join Us to post.
0