Our work with Climate Group and Responsible Steel on SteelZero demonstrates how we use our expertise, collaborative power, and research-based insights to influence change.
At present, steel is one of the largest emitters of CO2. SteelZero is a global initiative that brings together leading organizations in the sector globally to speed up the transition to net-zero. Organizations that join SteelZero make a public commitment to procure 100% net-zero steel by 2050. Harnessing this group of organizations and their collective purchasing power, we are sending a strong demand signal to shift global markets and policies towards responsible production and sourcing of steel.
For example, various reports published in 2020 argued that producing zero carbon steel would only be possible by 2040. Seeing the signals of change, one company was prompted to construct the first zero carbon steel mill, 20 years before anyone expected. Showing that this was possible made more and more customers ask for the product and other steel manufacturers began planning in earnest how they could meet this burgeoning demand.
In response to this momentum, WMBC worked with SteelZero and the First Movers Coalition to encourage companies to create specific commitments to increase the number of zero carbon steel plants under construction. This created a groundswell around the possibility of zero-carbon steel, an alignment within the market and a paradigm shift across the sector. Our partner, Mission Possible Partnership, is now very well placed to catalyze the supply side to action and we can help build out the infrastructure of the future, together.