FORT
WAYNE, Ind., Aug. 3, 2023
/PRNewswire/ -- Steel Dynamics, Inc. (NASDAQ/GS: STLD)
announced that the company supports The Steel Climate
Standard. The Steel Climate Standard was published today
by the Global Steel Climate Council (GSCC) to provide a
technology-agnostic global standard to measure and report steel
product greenhouse gas (GHG) emissions and provide a science-based
target-setting framework to enable the industry to reduce carbon
emissions.
"We are proud to be a founding member of the Global Steel
Climate Council," said Mark D.
Millett, Chairman and Chief Executive Officer. "Steel is an
integral component of the global economy and foundational to the
world's essential infrastructure. Specifically, lower-carbon steel
is necessary for the transition to a lower-carbon global economy.
This new standard will accelerate the actual reduction of
greenhouse gas emissions and provide key decisionmakers with
transparent and consistent data to make informed decisions. Steel
Dynamics is already a leader in producing lower-carbon steel
products. We continue to identify decarbonization opportunities,
building on our entrepreneurial, innovative spirit."
GSCC's standard is comprised of two main components: (1) product
certification criteria that allows customers to know if the steel
they are buying is on the glidepath to achieve the goals of the
Paris Climate Agreement; and (2) a science-based target-setting
framework based on a 1.5°C scenario glidepath for net zero GHG
emissions by 2050. The GSCC standard will measure all key GHG
emissions from Scope 1, Scope 2 and Scope 3 categories.
"The Steel Climate Standard is a simple and
understandable benchmark for reducing the steel industry's
greenhouse gas emissions," said Jeff
Hansen, Vice President Environmental Sustainability and GSCC
Board Member. "We helped lead the development of this important
standard for the industry and are excited for its launch and the
innovation and investments in lower emission technology that will
surely follow."
A draft version of The Steel Climate Standard was published in
April 2023. GSCC invited stakeholders
to review the Standard and submit comments. Many of the submitted
comments have shaped the final text of the Standard the GSCC
published today.
The full text of The Steel Climate Standard can be found at:
https://globalsteelclimatecouncil.org.
About the Global Steel Climate Council
GSCC is a non-profit organization created to lead an effort to
reduce steel carbon emissions and encourage investments in
lower-carbon emission technology as part of the global effort to
decarbonize economies and societies. GSCC members are steel
manufacturers, associations and other organizations in the steel
supply chain that have a presence in 79 countries around the
world.
About Steel Dynamics, Inc.
Steel Dynamics is one of the largest domestic steel
producers and metals recyclers in North
America, based on estimated annual steelmaking and metals
recycling capability, with facilities located throughout
the United States, and in
Mexico. Steel Dynamics produces
steel products, including hot roll, cold roll, and coated sheet
steel, structural steel beams and shapes, rail, engineered
special-bar-quality steel, cold finished steel, merchant bar
products, specialty steel sections and steel joists and deck. In
addition, the company produces liquid pig iron and processes and
sells ferrous and nonferrous scrap.
Forward-Looking Statements
This report contains some predictive statements about future
events, including statements related to conditions in domestic or
global economies, conditions in steel, aluminum, and recycled
metals market places, Steel Dynamics' revenues, costs of purchased
materials, future profitability and earnings, and the operation of
new, existing or planned facilities. These statements, which we
generally precede or accompany by such typical conditional words as
"anticipate", "intend", "believe", "estimate", "plan", "seek",
"project", or "expect", or by the words "may", "will", or "should",
are intended to be made as "forward-looking", subject to many risks
and uncertainties, within the safe harbor protections of the
Private Securities Litigation Reform Act of 1995. These statements
speak only as of this date and are based upon information and
assumptions, which we consider reasonable as of this date,
concerning our businesses and the environments in which they
operate. Such predictive statements are not guarantees of future
performance, and we undertake no duty to update or revise any such
statements. Some factors that could cause such forward-looking
statements to turn out differently than anticipated include: (1)
domestic and global economic factors; (2) global steelmaking
overcapacity and imports of steel, together with increased scrap
prices; (3) pandemics, epidemics, widespread illness or other
health issues, such as COVID-19 or its variants; (4) the cyclical
nature of the steel industry and the industries we serve; (5)
volatility and major fluctuations in prices and availability of
scrap metal, scrap substitutes and supplies, and our potential
inability to pass higher costs on to our customers; (6) cost and
availability of electricity, natural gas, oil, or other energy
resources are subject to volatile market conditions; (7) increased
environmental, greenhouse gas emissions and sustainability
considerations or regulations; (8) compliance with and changes in
environmental and remediation requirements; (9) significant price
and other forms of competition from other steel and aluminum
producers, scrap processors and alternative materials; (10)
availability of an adequate source of supply of scrap for our
metals recycling operations; (11) cybersecurity threats and risks
to the security of our sensitive data and information technology;
(12) the implementation of our growth strategy; (13) litigation and
legal compliance; (14) unexpected equipment downtime or shutdowns;
(15) governmental agencies may refuse to grant or renew some of our
licenses and permits; (16) our senior unsecured credit facility
contains, and any future financing agreements may contain,
restrictive covenants that may limit our flexibility; and (17) the
impacts of impairment charges.
More specifically, we refer you to our more detailed explanation
of these and other factors and risks that may cause such predictive
statements to turn out differently, as set forth in our most recent
Annual Report on Form 10-K under the headings Special
Note Regarding Forward-Looking Statements and Risk Factors, in
our Quarterly Reports on Form 10-Q, or in other reports we file
with the Securities and Exchange Commission. These reports are
available publicly on the Securities and Exchange Commission
website, www.sec.gov, and on our website, www.steeldynamics.com
under "Investors – SEC Filings."
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SOURCE Steel Dynamics, Inc.