Every piece of scrap has a part to play in a more sustainable future.
It is in our hands to give it the opportunity.
The Inner Circle initiative:
- Strengthens the European circular economy
- Gives more visibility to the product life cycle and the supply chain
- Helps customers find the right suppliers and to visibly act for a more sustainable circular economy
Why?
Circularity is needed for sustainable stainless steel production. The Inner Circle initiative promotes the recycling of steel scrap which contributes to a closed loop economy. This will help Outokumpu and its partners to reach sustainability goals and will benefit the environment.
How?
We are connecting our customers to scrap suppliers to create a closed loop for steel scrap. We will also verify, through open and objective criteria, the involved scrap suppliers to ensure a sustainable supply chain. By enabling partners to actively participate in the circular economy, we can ensure an efficient, visible and sustainable supply chain for scrap that will benefit the production of sustainable stainless steel. Read this Q&A to learn more.
What is the Inner Circle initiative all about?
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Card linkWhat is the Inner Circle initiative all about?
The Inner Circle initiative makes the sustainability benefit transparent and smoothens the path from stainless steel to usable scrap, and from scrap to ever more sustainable stainless steel production – effectively optimizing access to circularity for everyone.What is the purpose of the initiative?
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Card linkWhat is the purpose of the initiative?
The purpose is to make the scrap supply chain ever more sustainable by connecting customers to sustainable suppliers together with Outokumpu as the stainless steel producer.Why has this initiative been launched?
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Card linkWhy has this initiative been launched?
Outokumpu has the lowest carbon footprint in the industry, thanks to the highest recycled material content rate in our industry, 94%. The more we use scrap, the lower our emissions are. We would like to enable our customers and partners to actively participate. Further, we have recognized the need for customers to have easy access to responsible scrap suppliers. The Inner Circle will help customers locate and identify sustainable partners to work with.What are the benefits for different stakeholders?
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Card linkWhat are the benefits for different stakeholders?
Joining creates a positive impact for both the business and the environment. Together we show strong initiative and leadership by spearheading the move towards a more circular and a closed-loop economy. Our partners can join this unique initiative which is the first in the industry and demonstrate their leadership in the circular economy to their customers and stakeholders. Inner Circle scrap suppliers assure the careful and responsible management of the material whilst keeping the highest environmental and social standards.Are there any restrictions on members?
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Card linkAre there any restrictions on members?
No. Scrap suppliers and customers that join Outokumpu’s Inner Circle may freely choose their other business partners. The Inner Circle initiative does not contain any exclusivity requirements on scrap suppliers or customers.Is the initiative connected to Circle Green?
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Card linkIs the initiative connected to Circle Green?
Inner Circle is besides Outokumpu Circle Green® our latest initiative investigating new sustainable business models and pushing sustainability into the new edge. Commercially the two initiatives are not connectedWhat is Outokumpu’s role in the initiative?
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Card linkWhat is Outokumpu’s role in the initiative?
Our role is to steer the initiative, showcase the circularity of stainless steel production and connect customers to sustainable scrap suppliers. We will also verify, through open and objective criteria, the involved scrap suppliers to ensure a sustainable supply chain. We will also provide marketing materials for our partners.What is the scrap supplier’s role?
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Card linkWhat is the scrap supplier’s role?
The scrap supplier’s role is to ensure a sustainable supply chain by maintaining the sorting and following Outokumpu’s specifications and distributing the scrap sustainably. The scrap suppliers make a trust-based commitment to sell an equivalent volume of scrap collected from Inner Circle members to European mills.How are scrap suppliers verified?
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Card linkHow are scrap suppliers verified?
The scrap market is a global business where we see the need to verify scrap suppliers to join the initiative. ISO 9001 certification and the EcoVadis rating are the two main examples.How does this initiative work in practice?
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Card linkHow does this initiative work in practice?
We are now entering the pilot phase of this initiative with first partners joining. At this stage, our focus is on creating the practices and learnings about the closed-loop process. Our aim is to create a circular loop where sustainable scrap is recycled from customers to scrap suppliers to stainless steel producers. This initiative is first of its kind for the industry.
Can anyone join the initiative?
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Card linkCan anyone join the initiative?
Outokumpu’s Inner Circle is an open initiative where we would like to welcome all scrap suppliers and stainless steel customers from Europe to participate. Basic requirements need to be fulfilled, based on which we would like to establish an open initiative for sustainable recycling of steel scrap. Outokumpu expects all participants to ensure strict compliance with applicable laws, including competition laws.
What about the customers' role?
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