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 Certification

Resources:

  1. Steel Criteria Document
  2. Steel Background Paper
  3. Public Consultation Summary
  4. Steel FAQs
  5. Climate Bonds Standard V3.0

   Get Certified!

 

​News:

Complete Package for Steel Industry expands Certification under the Climate Bonds Standard and Opportunities for Policymakers to guide the sector on a climate-aligned pathway launched now!

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 2022 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.

 

A Green Future for Steel: Policy to accelerate the steel transition

The 2020s offers a perfect opportunity for the steel industry to transition in Europe. 74% of EU steel blast furnace capacity needs reinvestment by 2030, and blast furnaces have a life span of decades. Coming investment cycles will lock plants into a specific production process. Policymakers must guide industry and investors onto a climate-aligned pathway for steel. Learn more in Climate Bonds' policy paper A Green Future for Steel.

 

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

 

 

Technical Lead

Ali Hasanbeigi

Global Efficiency Intelligence

Robert Adamczyk

EBRD and EU Platform for Sustainable Finance

Dr. Max Åhman

Lund University

Dr. Rutger Gyllenram

Kobolde & Partners AB

Dr. Brenda Chan

CDP

Dan Gardiner

IIGCC and TPI

 

 

Lucy Kessler

Rocky Mountain Institute

Lachlan Wright

Rocky Mountain Institute

Hongyou Lu

Lawrence Brekeley National Laboratory (LBNL)

Dr. Sha Yu

Pacific Northwest National Laboratory

Dr. Zushu Li

WMG The University of Warwick

Antonina Scheer 

Transition Pathway Initiative (TPI)

Fabiana Contreras

Climate Bonds Sustainability Analyst Coordinating the Process

 

Industry Working Group (IWG) Members*

 

Alacero

Affirmative Investment Management

Arcelor Mittal

Baosteel

BayernLB

Bluescope

Citi

Danske Bank

Deloitte

Gerdau

ERM Certification and Verification Services

ING

Institutional Shareholder Services ESG

Japan Credit Rating Agency

JSW Steel

National Australia Bank

NN Investment Partners

Nomura

Severstal

Societe Generale Corporate and Investment Banking

Sustain Advisory

Sustainalytics

Tata Steel

TERNIUM BR

Unicredit

Voestalpine

World Steel Association

 

*Members of the IWG have provided critical and useability-focused consultation and feedback on the Criteria, but this does not automatically reflect endorsement of the criteria by all members.