Sustainability data becoming a driving force
As we approach the midsummer break in the Nordics, it’s worth reflecting on the theme of sustainability and how it’s shaping the market. This is partly driven by legislation such as the EU’s new Carbon Border Adjustment Mechanism (CBAM), and partly by voluntary initiatives such as the Science Based Targets initiative (SBTi).
Two full quarters of data have been reported to the EU under the CBAM legislation since it was introduced in October 2023. The mechanism has put a price on emissions-intensive EU imports such as steel, cement and electricity. Over the long term, this will raise demand for low emission products as that enable customers to avoid CBAM costs.
However, SBTi might have a bigger impact on the market, even though it is only voluntary. That is because top tier brands will create a trickle down effect when they require suppliers to help them meet upstream Scope 3 emissions goals.
Accurate data will be central to track emissions in the value chain. Therefore, we’ve introduced more granular data. Customers can ask for a one-page document that states the total emissions required for their products under scopes 1, 2 and 3. Our sales team uses our Carbon Calculator tool to create these documents, which are specific to the alloying content of the grade and production steps the for the customer’s steel.
Contact your local sales team to find out about the Carbon Calculator.
