Standard

The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds and loans. Rigorous scientific criteria ensure that bonds and loans with Certification, are consistent with the 2 degrees Celsius warming limit in the Paris Agreement. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

Steel

Status: The Steel Criteria is available for public consultation until the 6th of September 2022. We are looking forward to receiving your comments on the Criteria, please submit feedback via the Public Consultation Feedback Form before Sept 6th. All forms should be sent to public.consultation@climatebonds.net

 

Criteria: The Steel Criteria lay out the requirements that Steel production asset, projects must meet to be eligible for inclusion in a Certified Climate Bond and for company's on a credible transition path to issue transition labelled debt. The Criteria apply to manufacture and production of steel and do not address other stages of the value chain. 

The Criteria contain Mitigation Requirements, Adaptation & Resilience Requirements and Transition Requirements.

Bonds and loans linked to these eligible assets and projects will be aligned with the Paris Agreement 1.5oC limit.

 

Public consultation:

A webinar was held on the 23 of June to launch the Criteria for public consultation. The recording of that webinar is below.

Why develop eligibility Criteria for steel investments?

Improved guidance, such as these Criteria, will guide investors to invest in credible transition activity; guide asset owners to upgrade and guide policy makers to incentivise the transition and can be utilised by governments in setting regulation or recommendations for decarbonising the sector.

 

The Technical and Industry Working Groups (TWG and IWG)

To create the Criteria, we convened a Technical Working Group (TWG) and an Industry Working Group (IWG) with representatives from investors, public entities, research institutes and international policy bodies from around the world.  These experts ensure a robust pragmatic criteria is developed.

 

The Steel Criteria Technical Working Group Members

 

Robert Adamczyk

EBRD and EU Platform for Sustainable Finance

Dr. Nate Aden

World Resources Institute

Dr. Max Åhman

Lund University

Dr. Christian Carraretto

EBRD

Dr. Brenda Chan

CDP

Dan Gardiner

IIGCC and TPI

Dr. Rutger Gyllenram

Kobolde & Partners AB

 

Lucy Kessler

Rocky Mountain Institute

Jose Lazuen

IIGCC

Hongyou Lu

Berkeley Lab

Dr. Sha Yu

Pacific Northwest National Laboratory

Dr. Zushu Li

WMG The University of Warwick

Antonina Scheer 

Transition Pathway Initiative (TPI)