“The Steel Climate Standard sets a precedent by establishing a single, process-agnostic standard and mandating science-based emission targets for steel manufacturers globally," the  organization said in a statement Thursday. "In contrast to other proposals that consider a ‘ferrous scrap usage sliding scale,’ The Steel Climate Standard is ambitious, auditable, inclusive, and transparent."

The Steel Climate Standard aims to provide a single, technology-agnostic framework for steel product certification and company science-based emissions target-setting that applies equally to all steel producers globally; enable steel customers to make informed choices; and align with the Paris Climate Agreement's emissions reduction goals by 2050.

“I'm proud that this standard was designed through a collaboration of steel companies and associations from around the world. It will guide all steel manufacturers worldwide toward decarbonization. It can also guide governments, steel customers and other stakeholders to encourage policies and practices that support this pivotal path to net zero,” said Nucor chair and chief executive officer Leon Topalian. 

The Steel Manufacturers Association, a founding member of the Global Steel Climate Council, said the new standard will make it easy for steel buyers to determine which steels have the lowest embodied carbon. 

"That’s important because automakers, appliance manufacturers, construction firms, governments and other buyers of steel need to know how much embodied carbon is in all the material they use in their own products and projects," said Steel Manufacturers Association president Philip K. Bell.

He added that the standard will prevent producers from greenwashing their products. 

“No steel should be called clean, green, low-carbon, or responsible if its production generates four or five times as many greenhouse gas emissions as the same steel made by a competitor with a cleaner process,” he said. “Steelmakers whose products have higher carbon intensity will have to change their processes to meet the Steel Climate Standard. And that must happen if we are to meet global emissions reduction goals in time to prevent catastrophic climate change.”

“The Steel Climate Standard measures carbon emissions for all steel the same way, no matter where or how it was made,” said SMA President Philip K. Bell. “That approach makes it .