Protecting the climate

Mitigating climate change with stainless steel

Outokumpu is committed to the Science Based Targets initiative and reducing CO2 emissions even further. Constantly improving sustainable solutions are needed for mitigating climate change, and stainless steel is an excellent material for its recyclability, durability, and low carbon footprint.

The lowest carbon footprint in the industry

Global megatrends such as population growth, accelerating mobility and urbanization have resulted in increasing carbon emissions and climate change. Stainless steel can help to build solutions for a more sustainable world.

Outokumpu’s carbon footprint is less than 30% of the global industry average. Key reasons are for our low carbon footprint are our own ferrochrome, high recycled content and the use of low carbon electricity.

Outokumpu helps its customers develop solutions that reduce climate burden by means of the right material choices. On an annual level, our clients are able to reduce their carbon footprint by 8 million tons. Outokumpu publishes environmental product declarations (EPDs) on its main products using life cycle inventory data. This means our customers are able to calculate the sustainability performance of their product life cycles.

Value chain emissions graph

 

 

Climate targets

Our total company carbon profile, including upstream emissions, is the lowest in the industry according to our calculations. We have reduced our emissions by increasing the share of recycled material in stainless steel production to more than 90%. In addition, we have increased the share of low-carbon electricity in energy consumption, improved energy efficiency and reduced transport emissions.

Outokumpu has been a member of the Science Based Targets initiative since 2016. We are committed to the ambition of keeping global warming below 1.5°C and updated our climate targets accordingly in 2021.

The approval of the Science Based Targets initiative for our climate targets means that the targets are aligned with keeping global warming below 1.5°C and meet the goals of the Paris Agreement. Outokumpu is the only stainless steel producer to have climate targets approved by the Science Based Targets initiative.

Outokumpu’s new near-term science-based target is to reduce direct and indirect emissions as well as its supply chain emissions (scopes 1, 2 and 3) by 42% per tonne of stainless steel by 2030 from a 2016 base year. The new target marks a further 30% reduction from the 2020 level. The updated targets cover Outokumpu’s value chain from raw materials to own production and delivery.