{"id":2937,"date":"2023-12-12T14:12:41","date_gmt":"2023-12-12T07:12:41","guid":{"rendered":"https:\/\/gunungcapital.com\/?p=2937"},"modified":"2023-12-12T14:12:44","modified_gmt":"2023-12-12T07:12:44","slug":"roadmap-for-iron-and-steel-sector-specific-science-based-targets","status":"publish","type":"post","link":"https:\/\/gunungcapital.com\/zh\/roadmap-for-iron-and-steel-sector-specific-science-based-targets\/","title":{"rendered":"Roadmap for Iron and Steel Sector-Specific Science-based Targets"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"2937\" class=\"elementor elementor-2937\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-43e00c8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"43e00c8\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2f3525a\" data-id=\"2f3525a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4cc29c1 elementor-widget elementor-widget-text-editor\" data-id=\"4cc29c1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.16.0 - 14-09-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><span style=\"font-weight: 400;\">Science Based Targets Initiative (SBTi) is a collaboration between four entities: the Worldwide Fund for Nature (WWF), the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and the Carbon Disclosure Project (CDP). It helps businesses and financial organizations develop and implement guidelines to reduce their greenhouse gas (GHG) emissions in line with the goals of the Paris Agreement to limit global temperature to 1.5\u00b0C. Over a thousand organizations worldwide have joined the initiative to set science-based targets or commitments.<\/span><\/p><p><span style=\"font-weight: 400;\">SBTi has introduced four guiding recommendations for steel and iron manufacturing companies and their distribution channels to help them set science-based objectives. Financial organizations that engage in financing and investing in iron and steel industries can utilize the SBTi recommendations in establishing goals for their scope 3 investments-related emissions.<\/span><\/p><p><span style=\"font-weight: 400;\">The recommendations or roadmap should be leveraged by steel and iron organizations that engage in both upstream and downstream manufacturing businesses and are planning to set their verified carbon-reduction goals or want to integrate these targets into their overall sustainability journey.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ba97a6c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ba97a6c\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5fa8c36\" data-id=\"5fa8c36\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-15e88ca elementor-widget elementor-widget-text-editor\" data-id=\"15e88ca\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Establish goals, perimeters, and techniques for setting the goals:<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Choose between setting a zero-carbon goal (combining both a short- and long-term plan) and a sole short-term objective.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Select every goal&#8217;s starting year and final year, which should be 2050 or earlier. The short-term goals need to be achieved within 5 to 10 years from the day of goal submission to SBTi.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ascertain\u00a0which\u00a0of\u00a0the\u00a0scope\u00a03\u00a0goals\u00a0are\u00a0necessary,\u00a0voluntary,\u00a0or\u00a0desirable from the company\u2019s perspective.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ascertain the emissions covered by and beyond the goal\u2019s limits and align them with the SBTi-recommended goals.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Select the strategy for establishing every goal<\/span><\/li><\/ul><div>\u00a0<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6dfa259 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6dfa259\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5322a71\" data-id=\"5322a71\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c2de3c8 elementor-widget elementor-widget-text-editor\" data-id=\"c2de3c8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Track, monitor and evaluate all emissions:<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Determine the key performance metrics and necessary information, such as the starting year specific to the sector\u2019s scope for recording and calculating the carbon-emission and production data (metric tonne) and scrap ratio (percentage) for the initial year, projected production, and scrap ratio for the target year.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Consider ferrous metals and three types of scrap i.e., manufacturing plant scrap, obsolete scrap, and industrial scrap in ascertaining the above ratio.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Follow the criteria, goal verification protocol and GHG Protocol Corporate Accounting and Reporting Standard provided by SBTi for carbon-emission inventory calculations done for establishing the emission-reduction goals.<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-da77c49 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"da77c49\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5dfe240\" data-id=\"5dfe240\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d53a481 elementor-widget elementor-widget-text-editor\" data-id=\"d53a481\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Establish the science-based goals:<\/b><\/p><p><span style=\"font-weight: 400;\">The iron and steel manufacturing firms are advised to adopt the below measures for their goal construction:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gather information for production projections up to the final goal year.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Enter the carbon stock and related information from the prior stages into the goal-establishing technologies, such as tools offered by SBTi to determine the cutbacks necessary for acceptable objectives for all GHG scopes (1, 2 and 3)<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Choose the goal phrasing based on the SBTi gaol submission application format, the recommended guidelines, and the steel industry websites.<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-82c4772 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"82c4772\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c6b77b0\" data-id=\"c6b77b0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6b04eba elementor-widget elementor-widget-text-editor\" data-id=\"6b04eba\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li aria-level=\"1\"><b>Goal submission to the SBTi:<\/b><\/li><\/ul><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ensure short-term goals support the long-term goal strategy by identifying and mitigating financial and technological risks.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Maintain transparent communication with the relevant stakeholders in case of any modification in the goals-setting approach. Ensure the new approach is more progressive compared to the previously decided target.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Determine the most appropriate Steel Decarbonization Approach (SDA) developed by the SBTi, according to the nature of the organization or business (upstream or downstream)<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8be9692 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8be9692\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7d15010\" data-id=\"7d15010\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ed8e961 elementor-widget elementor-widget-text-editor\" data-id=\"ed8e961\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Iron and steel is one of the most carbon-intensive sectors in the world, accounting for more than 7% of global carbon emissions. To align the sector with the previously mentioned Paris Agreement\u2019s goal of limiting, it is necessary to transform the iron and steel manufacturing processes and reduce its emissions significantly. Climate-concerned bodies like SBTi are continuously taking several initiatives and projects that aim to provide guidance and support to the steel sector to set science-based targets consistent with the level of decarbonization required by the latest climate scenarios. Therefore, all the companies falling within the scope of the roadmap should follow the guidelines prescribed by the SBTi.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Science Based Targets Initiative (SBTi) is a collaboration between four entities: the Worldwide Fund for Nature (WWF), the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and the Carbon Disclosure Project (CDP). It helps businesses and financial organizations develop and implement guidelines to reduce their greenhouse gas (GHG) emissions in line with the [&hellip;]<\/p>","protected":false},"author":1,"featured_media":2948,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"_links":{"self":[{"href":"https:\/\/gunungcapital.com\/zh\/wp-json\/wp\/v2\/posts\/2937"}],"collection":[{"href":"https:\/\/gunungcapital.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gunungcapital.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gunungcapital.com\/zh\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gunungcapital.com\/zh\/wp-json\/wp\/v2\/comments?post=2937"}],"version-history":[{"count":14,"href":"https:\/\/gunungcapital.com\/zh\/wp-json\/wp\/v2\/posts\/2937\/revisions"}],"predecessor-version":[{"id":2952,"href":"https:\/\/gunungcapital.com\/zh\/wp-json\/wp\/v2\/posts\/2937\/revisions\/2952"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gunungcapital.com\/zh\/wp-json\/wp\/v2\/media\/2948"}],"wp:attachment":[{"href":"https:\/\/gunungcapital.com\/zh\/wp-json\/wp\/v2\/media?parent=2937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gunungcapital.com\/zh\/wp-json\/wp\/v2\/categories?post=2937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gunungcapital.com\/zh\/wp-json\/wp\/v2\/tags?post=2937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}