ResponsibleSteel, the steel sector’s first global multi-stakeholder certification and standard initiative, and CRU Group, the leading global mining, metals and fertilizer market intelligence company, have signed a Memorandum of Understanding (MOU) which includes the integration of the ResponsibleSteel Standard into CRU’s Emissions Analysis Tool.
The CRU Emissions Analysis Tool is a digital platform that compares emissions across global value chains. The tool compares asset level sustainability data which will now include acknowledgement that a steel site has been audited and passes the rigorous standards laid out in ResponsibleSteel’s certification programme.
The MOU between ResponsibleSteel and CRU allows the industry to accelerate its sustainability journey. Key benefits of the partnership include:
- Increase global knowledge and awareness of steel and steelmaking raw materials value chains and their material sustainability issues
- Maximise opportunities for improvement in value chain sustainability, through increased transparency
- Enhance analysis and transparency of steel and steelmaking raw material assets, products,
corporates and sector-related performance for all stakeholders
- Develop and share science and data-based approaches to supply chain risk mitigation and resilience
On the partnership, Chief Executive of ResponsibleSteel Anne-Claire Howard stated: “I am delighted to formalise our collaboration with CRU through this MoU. The integration of ResponsibleSteel published information on ResponsibleSteel certification status into the CRU Tool will increase stakeholders understanding of sustainability efforts in the steel sector, allow comparability across the sector and along supply chains and provide transparency of where improvements are taking place and we hope that in 2022 we will be able to add certified steel to this."
CRU’s Head of Research Development, Lavan Mahadeva echoed Howard, “Most of the headlines on sustainability in steel have been on carbon emissions and the industry’s large carbon emissions footprint. CRU developed our expert cost model carbon emissions calculations for the steel value chain and our Emissions Analysis Tool data portal to bring evidence to this debate. We are delighted to represent Responsible Steel in our data portal and to support them in their task of promoting and enlightening on all aspects of the responsible sourcing, production, use and recycling of steel, a material that we cannot do without.”
Discussing the partnership and developments along the pathway to sustainable steel, ResponsibleSteel and CRU will host a webinar in January 2022. Steel producers, sustainability leaders, policymakers and investors are encouraged to attend the free session. Register your interest here.