Status: The Steel Criteria are in development.
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 is scheduled to begin in Dec 2021 and will last for 60 days.
A webinar to launch the consultation will be scheduled in December and will provide an opportunity for interested parties to learn more about the Criteria and to ask questions. The webinar will be recorded and will posted on this page.
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.