News

26. May 2022

Ƶ systematically pursues green transformation

Swiss Steel CEO signs letter of commitment to SBTi

Lucerne. At the 21st World Climate Summit (COP 21) in 2015, the legally binding Paris Climate Agreement was adopted with the aim of limiting global warming to maximum 1.5 °C. This will only succeed, however, if industry is brought on board.

The initiative is supported by SBTi (Science Based Targets Initiative), a partnership of the Carbon Disclosure Project (CDP), UN Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The initiative’s aim is to establish science-based targets (SBTs) to reduce greenhouse gas emissions as a standard of corporate practice.

Frank Koch, the CEO of the Ƶ, has now also signed the SBTi Commitment. In taking this step, the Group and all its sites are committed to adopting decarbonization measures and to reducing emissions by 2050 in keeping with world climate targets. The Ƶ now has two years to have their decarbonization targets validated by SBTi and then implement them.

“We are determined to continue to improve our leadership in Green Steel produced with fewer emissions until we reach net zero,” confirms Frank Koch. In this endeavor, the Group has different starting conditions. The carbon footprint of the Swiss site, for example, is already 90% lower today than any of the worldwide industry average. “At other sites, we still need more support at the political level, for example, to be able to make decarbonized energy available in sufficient quantities.”

In the meantime, 3,000 companies worldwide have committed to SBTi to meet the set climate targets. The Ƶ with 100% of their production based on electric arc furnaces is well on its way to meeting these requirements.

Companies taking action:

 

 

For further information:

Anina Berger, a.berger(at)swisssteelgroup.com, Phone +41 (0)41 581 4121

 

 

About Ƶ

The Ƶ today is one of the world’s leading providers of individual solutions in the special long steel products sector. The Group is one of the leading manufacturers of tool steel and non-corrosive long steel on the global market and one of the two largest companies in Europe for alloyed and high-alloyed constructional steel. With close to 10,000 employees and in-house production and distribution companies in over 30 countries and on 5 continents, the company guarantees its customers a global supply and customer service, and offers them a complete production portfolio as well as sales and services around the world. They benefit from the company’s technological expertise, the consistently high product quality around the world and detailed knowledge of local markets.