GENERAL NEWS
Decarbonise the steel sector
ING and five other banks ( Citi , Goldman Sachs , Société Generale , Standard Chartered and UniCredit ) have formed a working group to take action on climate in the steel sector . The banks , all leading lenders to the steel industry , will define common standards for measuring progress on climate targets , proactively supporting the sector ’ s decarbonisation . ING will lead this working group .
“ Steel is essential for modern life . Many industries have low-carbon technologies but the steel sector , which emits roughly 7 % of global energy emissions and is heavily dependent on coal , currently lacks commercially viable alternatives . Since the sector is so carbon-intensive , there are expectations that financial institutions should support its decarbonisation , but so far financial institutions lack the practical tools to do this effectively ,” said the working group .
The Steel Climate-Aligned Finance Working Group will consist of senior representatives from each bank ’ s metals and mining teams .
It will work to draft a climate-aligned finance agreement for the sector including the scope , emissions pathways , methodologies and governance structure . It will align with other initiatives as much as possible . The goal is to set global best practices on climate for financial institutions that facilitate steelmaking .
“ The challenge for the steel sector to decarbonise is significant , with alternative technology paths unproven and not yet commercialised ,” said Arnout van Heukelem , global head of Metals , Mining and Fertilisers at ING . “ By leading this working group , we signal our commitment to help define what the energy transition means for the sector and our clients . It will also help us to define our expectations for change and define an ambitious , yet realistic , trajectory to meet those ambitions .”
The working group ’ s ambition is to define a pathway to 2050 to achieve net-zero steelmaking . The output of the working group will eventually be incorporated in ING ’ s Terra approach , which uses sector-based methodologies to steer the lending book in line with global climate goals .
The agreement will be modelled after the Poseidon Principles , the first sector-specific climate-aligned finance agreement for maritime shipping . The working group aims to get more banks to join the final climatealignment agreement , which will be released at the 26th UN Climate Change Conference of the Parties ( COP26 ) in November 2021 . The working group falls under the umbrella of the recently launched Net Zero Steel Initiative , which is part of the broader Mission Possible Platform . n
Recruiting Gen Z candidates
Generation Z , those born between 1997 and 2015 , has been fully immersed in the online world from their earliest days , making Gen- Zers a different breed of workers . Not only do they work and communicate uniquely , compared to previous generations , getting them excited about a career in manufacturing can sometimes seem like an uphill battle .
So how do today ’ s metal fabricators reach and recruit these digital natives ? Luckily , says the US-based FMA ( Fabricators and Manufacturers Association , Intl ), it is arguably easier than ever if you use the right tools and methods ……
“ Considering how advanced manufacturing is and how many prosperous careers are available , why aren ’ t droves of young jobseekers pursuing manufacturing positions ? It turns out the perception of manufacturing is all wrong . In a 2018 ThomasNet . com survey , half of Americans said they thought manufacturing was low tech or they weren ’ t sure . In reality , some of the most cutting-edge technological concepts ( like the Internet of Things , Industry- 4.0 , 3D printing and Artificial Intelligence ) are used in the manufacturing industry — enabling employees to interact with some of the most powerful technology in the world ,” said the FMA .
“ Not only is it widely unknown to the public that manufacturing uses innovative technology , but many people also don ’ t realize the lucrative pay , robust benefits and plethora of career options that are available in the industry . When you flip the focus on manufacturers , they could be doing more to reach Gen Z candidates too — with some creativity and help ,” it added .
One way , it says , for metal fabricators in particular , to better engage with the younger generation is to go where they are . As digital natives , Gen Z consumes information on Instagram , Twitter , YouTube , Snap Chat and TikTok . Unfortunately , many fabricators do not have an established presence on those platforms .
In a panel discussion with young manufacturing professionals from the 2021 FMA Annual Meeting , the FMA recommended that potential employers use the social media platforms that Gen Z uses to reach them .
“ So , metal fabricators should go where Gen- Z candidates are , but they also need to keep in mind that this younger generation consists of highly visual learners , quickly consuming information through photos and videos . In fact , fabricators have just about eight seconds to engage with them . Gen Z also multi-tasks across five screens on average so if what they are consuming isn ’ t clear , short and highly visual , they ’ ll keep scrolling or hop over to another platform ,” added the FMA .
The FMA has highlighted the most enticing aspects of fabrication careers for young people and tips on how manufacturers can speak to them when getting the message out , in its newly released guide ‘ Careers in Metal Fabrication ’. It takes a practical approach that explores real-world case studies , strategies and tactics for attracting careerminded employees to companies in today ’ s competitive job market . n
ISMR July / August 2021 | sheetmetalplus . com | 7