Russian steelmaker Severstal, one of the world's leading vertically integrated steel and steel-related mining companies, has developed a Climate Memorandum entitled Together towards a low-carbon Future in support of global efforts to prevent further climate change.

Schneider Electric and Air Liquide are the first partners to join the initiative to join forces on ensuring a sustainable low-carbon future.

Severstal created the Climate Memorandum to commit members of its supply chain to measures that will support a reduction in their carbon footprint, as part of its focus on collaboration for decarbonisation. Severstal is one of the first steel producers in Russia to calculate its scope 3 GHG emissions and is working closely with businesses that contribute to emissions ‘hot spots’ in the company’s supply chain to help them reduce their carbon footprint.

“Severstal pays close attention to the issue of climate change. We take great efforts to minimize the carbon footprint of our own operations and also collaborate with our partners on joint decarbonisation initiatives."

Alexander Shevelev, CEO, Severstal

“Severstal pays close attention to the issue of climate change. We take great efforts to minimize the carbon footprint of our own operations and also collaborate with our partners on joint decarbonisation initiatives," said Alexander Shevelev, Severstal's CEO.

According to Shevelev, agreements between manufacturers and suppliers of goods and services that declare a common commitment to decarbonisation are becoming common practice in the global business community. "I am delighted that Severstal’s initiative has already been supported by two international companies - Schneider Electric and Air Liquide. I am convinced that only environmentally responsible companies and organizations that truly share our concern about climate change will be able to demonstrate in practice the principles set out in the Memorandum," he said.

The Memorandum contains five guidelines as well as recommendations for their implementation. Those who support the Memorandum must commit to:

  • implementing the climate agenda in the practice of corporate governance;
  • assessing greenhouse gas emissions and setting targets for their reduction;
  • managing climate risks and adapting to climate change;
  • supporting the development and implementation of low-carbon technologies; and,
  • building climate-responsible interaction with stakeholders.