The U.S. steel production industry is already the world’s most carbon efficient, due to its pioneering role in electric-arc steelmaking, which relies on recycled scrap. As automakers, construction companies, and consumers increasingly seek low-emissions materials to make their products, U.S. steelmakers can double down on their competitive advantage by investing more in industry leading solutions, such as advanced, scrap-based steelmaking, direct reduced iron, sourcing 100% clean power, and advancing green hydrogen and carbon capture and storage.
Our work in the steel sector
The clean economy will be built on clean steel. The swift transformation of the U.S. steel industry underscores how big the benefits can be of the technology advances and smart policy Ceres is working with investors and companies to advance.
Our approach
Globally, the steel industry is responsible for more than 7% of total greenhouse gas (GHG) emissions. Through our Ambition 2030 initiative, Ceres aims to decarbonize the six highest-emitting sectors of the economy, including the steel sector. We work sector-wide, calling on companies to set science-based climate goals, create robust transition action plans, and provide disclosure about how they are achieving interim targets by 2030.
Investor engagement
Through the Ceres Investor Network and the global investor engagement initiative, Climate Action 100+, we support and educate institutional investors to help them better understand and engage with companies on sustainability risks and opportunities in the steel sector.
Corporate action
We work directly with U.S. steel companies to disclose emissions, set robust climate goals, and advocate for policies and regulations that will help the steel sector reach those goals.
Policy advocacy
We work with U.S. steel companies to build support for innovative climate and energy policies and regulations at the state and federal levels.
Our Progress
We work with investors and companies in the steel sector to reduce their overall climate impacts and accelerate the just and sustainable transition to a low-carbon economy. In 2017, we began engaging with steel companies to address their climate emissions and other sustainability risks. At the time, no U.S. steel makers had set climate emissions reduction targets. Today, after years of successful engagements with investors, 80% of U.S. steel companies have set climate goals. Here are some recent highlights.
Nucor
Nucor, the largest steelmaker in the U.S. and 15th largest in the world, committed to adopting its first 1.5°C climate target inclusive of Scope 3 emissions.
U.S. Steel
U.S. Steel announced a deal to supply General Motors with low emissions steel, which will help reduce climate emissions in the transportation sector as well. The steel is manufactured with up to 75% fewer emissions and made with up to 90% recycled content.
Steel Dynamics
Steel Dynamics followed U.S. Steel’s lead by pledging to become carbon neutral by 2050. Additionally, the company plans to increase renewable energy to power its steel mills to 30% by 2030.
U.S. Steel
U.S. Steel unveiled its new sustainable steel line at our annual conference. The company also publicly pledged to be carbon neutral by 2050, becoming the first steel company to do so.
Help us transform the steel sector
Our work to accelerate the transition to a more just and sustainable economy depends on the generosity of our supporters. Your gift will help Ceres drive progress across every sector of the economy.
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