The legally binding Paris Climate Agreement was adopted at the 21st World Climate Conference (COP 21) in 2015. Its goal is to limit global warming to a maximum of 1.5°C. However, this can only succeed with a corresponding contribution from the business community.
The initiative is supported by the SBTi (Science Based Targets initiative), a partnership of the Carbon Disclosure Project (CDP), UN Global Compact, World Resources Institute (WRI) and World Wide Fund for Nature (WWF). The initiative aims to make “science-based targets” for reducing greenhouse gas emissions a standard of corporate practice.
Now Frank Koch, CEO of the Swiss Steel Group, has also signed the SBTi Commitment. This commits the Group and all its sites to take decarbonization measures and reduce emissions in line with global climate targets by 2050. The Swiss Steel Group now has two years to have its decarbonization targets validated by SBTi and subsequently implemented.
“We are determined to consistently improve our leadership in low-emission green steel until we reach Net Zero,” says Frank Koch. At the same time, the group has different starting conditions. For example, the carbon footprint of the Swiss site is already around 90 percent lower than that of the global industry average. “In other locations, more policy support is still needed, for example, to make decarbonized energy sufficiently available.”
In the meantime, almost 3,000 companies worldwide have committed to SBTi to achieve the climate targets set. With its production based 100 percent on electric arc furnaces, the Swiss Steel Group offers the best conditions for this.
About Swiss Steel Group
The Swiss Steel Group is one of the world’s leading suppliers of individual solutions in the field of special steel long products. The Group is one of the leading producers of both tool steel and stainless long steel on the global market and is one of the two largest companies in Europe for alloyed and high-alloyed engineering steel. With almost 10,000 employees and its own production and distribution companies in over 30 countries on five continents, the company offers a complete portfolio of production and sales & services worldwide.