[ INTERVIEW ]
“ It is common knowledge that our purpose is to help nature survive . At the present moment , we can see that climate change is the key reason why various ecosystems are suffering . Therefore , we have started looking at what is behind this ,” Ms . Vuorinen explains . “ The general perspective makes it difficult for people to see environmental NGOs like us working with certain industries , however , if we want to get to the bottom of the problem , we must seek the largest polluters , so for example , we must find where the emissions are coming from . This led us to the steel sector which is one of the most energyintensive sectors and main drivers of climate change .”
To provide a more detailed background , in July 2023 , the Science Based Targets initiative ( SBTi ) 2 published its new guidance for steel sector target setting . The new guidance is based on the science-based carbon budget of the 1.5 ° C threshold , in alignment with the ambitions of the Paris Agreement . WWF , one of the founders and partners of SBTi , is now trying to persuade the key stakeholders of the steel industry to commit to SBTi and provide guidance in line with the latest climate science .
“ WWF Finland ’ s Ready for Green Steel campaign sent a signal to the market and the investors that swift changes are needed . Highquality guidance is out there , now we simply need to utilize it to reach the final goal , which is the actual emission reduction ,” Ms . Vuorinen elucidated .
Companies are ready for green steel
Shortly after our interview , Ms . Vuorinen called to inform me of not one , but two new companies joining the campaign . The first to join were Cargotec , Enersense and YIT , quickly followed by the Purmo Group and Fingrid .
Looking at the list of participants , we can see that a wide range of industries has been covered , such as machinery , energy and construction . As shared by Ms . Vuorinen , the companies were eager to come forward and take part in the campaign .
“ Not only were all the participants highly interested in decarbonisation of the steel industry from the start , but they were also intent on making the change now which is of utmost importance ,” Ms . Vuorinen emphasized . She went on to add , “ For some businesses , the cost of steel in the end product does not play that much of a role as for others . That is something we have noted when discussing the general goals with companies we are trying to engage .”
Kirsi Vuorinen , Project Manager at WWF Finland . Photo : Joonas Fritze / WWF
Key targets
As their website states , WWF ’ s campaign is about sending a strong message to steel producers worldwide . Ms . Vuorinen offered a more detailed explanation of what that entails . “ There are two main stakeholder groups that we are engaging . One is the steel buyers and companies that mainly use steel as feedstock . The predictions are that the global steel demand will grow in the future ; therefore , we are trying to persuade them to commit to increasing the share of low-emission green steel . The second group consists of financial institutions and investors . We hope that in the future these stakeholders will be willing to restrict their investments and financial services to steel companies that are aligned with SBTi guidance .”
2 https :// sciencebasedtargets . org / sectors / steel
Green Steel World | Issue 10 | February 2024 33