The We Mean Business Coalition (WMBC) – in co-operation with the United Nations and the 2015 Paris Agreement – is calling on business leaders of the global steel industry to take part in the 2023 Corporate Climate Stocktake.

Steel industry leaders are being urged to share progress and the barriers they face in transitioning to a leaner, greener steel industry in order to help shape UN climate negotiations.

According to the We Mean Business Coalition (WMBC) June and July were the hottest months on Earth since records began. Temperatures in California, Iran and China reached levels that threatened human life, whilst wildfires endangered people’s homes and lives across Southern Europe.

With the environment in such peril, says the WMBC, the case for urgent action to prevent climate breakdown becomes clearer every day – and, it is claimed, the pressure is mounting on the global steel industry to be held accountable an achieve its net zero emissions target by 2050.

The global steel industry accounts for around 7% of global CO2 emissions.

“We’re inviting the leaders in the Steel Industry to share their views on the pace of transition underway, the barriers they’re facing to cut emissions and transition to clean energy – and perhaps most crucially what they need to go faster.”

Maria Mendiluce, CEO, We Mean Business Coalition.

Maria Mendiluce, WMBC CEO, commented: “We’re inviting the leaders in the Steel Industry to share their views on the pace of transition underway, the barriers they’re facing to cut

emissions and transition to clean energy – and perhaps most crucially what they need to go faster.

“To truly understand the state of the global energy transition, we need to hear directly

from the people working on these issues inside companies,” she added.

Insights gathered from the Corporate Climate Stocktake will be published ahead of the

COP28 climate conference in Dubai later this year, helping shape government decisions on the speed and direction of the green transition.

Steel companies are using more renewable energy than ever before, yet challenges remain to all businesses as the change requires co-ordinated action that transcends national borders and government-imposed targets.

The research, being conducted in partnership with Bain & Company, will be published in September 2023, and communicated directly to the leadership of the UN Climate

Change division and COP28 Presidency, helping to inform policy makers on progress being made and obstacles holding businesses back.

Companies interested in making their voices heard on their clean energy transition are invited to contact the project team at: [email protected]