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Steel GHG Emissions Reporting Guidance

This document provides a methodology for steel companies to report emissions in a way that enables the development of a climate differentiated market for low-embodied-emissions steel that promotes the necessary investments to decarbonize the sector. This document is developed based on the carbon accounting principles of RMI’s Horizon Zero project. The overarching principle is the need for companies to report emissions at the product level from a specific asset.

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Publication date and version

June 21, 2023, Version 1.0

Date updated

June 21, 2023

Initiative

Rocky Mountain Institute (RMI)

Boundary

Membership

Industry

Metals and Mining

Specificity

Product-level

Product

Steel products

Alignment | last updated July 29, 2024

Compare the status of alignment with PACT Methodology. We’re constantly working with the initiative to reach further alignment.

Overall approach

partially aligned

Characterization factor
The current version of the guidance recommends AR5 (100 year GWP)
To align with PACT Methodology: Use the latest version of the IPCC Assessment Report publication as indicated in Chapter 3.2.1 of the PACT Methodology

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Calculation guidance

partially aligned

Exemption rule
The current version of the guidance has an exemption rule of max. 5% of emissions overall cumulative
To align with PACT Methodology: Ensure the max. 1% of emissions at individual attributable processes, and cumulative at max. 5% of emissions overall as indicated in Chapter 3.3.1.2 of the PACT Methodology

Allocation
The current version of the guidance follows ISO 14404 on allocation hierarchy and does not follow a specific decision tree
To align with PACT Methodology: Use the allocation decision tree as indicated in Chapter 3.3.1.4 Figure 8 of the PACT Methodology

Biogenic emissions and removals
Not been relevant for this product, so not currently included

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Data integrity

partially aligned

Validity period
The current version of the guidance mandates a yearly update
This is stricter than PACT and therefore, no other additional action is needed

Data quality metrics
The current version of the guidance does not include a data quality assessment (DQR matrix)
To align with PACT Methodology: Use the data quality metrics as indicated in Chapter 4.2.3 of the PACT Methodology

Assurance and verification
The current version of the guidance does not include specific requirements about the level and basis for assurance and verification
To align with PACT Methodology: Follow the requirements specified in Chapter 5 of the PACT Methodology

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