Press Release: Today, the Sustainable Shipping Initiative has launched the Green steel in shipping report.
In order to create a sustainable, future-proof shipping industry, we need to rethink how we build, operate, and recycle vessels. Steel is the primary shipbuilding material, and the steel industry is responsible for 7-9% of global GHG emissions. Addressing steel emissions is critical to decarbonising across the ship lifecycle and provides opportunities for collaboration with the steel industry and other steel demand sectors to rethink steel production, use, and recycling.
The report focuses on green steel in shipping, using the following definition: “steel that is certified as meeting the highest levels of environmental, social and governance performance (ESG), rather than only addressing the release of greenhouse gases”.
The research identifies drivers and barriers to closing the loop on steel in shipping, including the challenge of scrap steel supply, growing regulation around sustainability and emissions reporting, as well as the potential for tools, such as material passports, to enable demand and uptake of green steel in shipping.
