Leading companies from Europe and Asia lowered their carbon footprint by up to 93 percent in stainless steel by using Circle Green, a spearhead solution launched by Outokumpu in May 2022.
Dec 31, 2024
Several leading companies from various industry sectors in Europe and Asia have been able to lower their carbon footprint by up to 93 percent in stainless steel by using Circle Green, a spearhead solution launched by Outokumpu in May 2022.
As per Outukumpu, global leader in sustainable stainless steel, this was the first-of-its-kind innovation on a global scale with such a low carbon footprint and product-specific footprint calculation for every delivery, which resulted in total emission reduction of 50400 tons between May 2022 and December 2024.
Today, more than 30 leading companies from various industry sectors in Europe and Asia were using this solution to reduce their carbon footprint.
“Outokumpu is committed to a science-based climate target aligned with the Paris Agreement. Our efforts on achieving 95 percent recycling rate in our production, using low-emission electricity and producing our own ferrochrome underline the leadership position in sustainability. The frontrunner companies have seen the business value of offering Circle Green to their customers through their solutions”, says Jörg Müller, Head of Sales for Stainless Europe at Outokumpu.
“Even though the journey is still in its early phase, the volumes have multiplied year by year. We are confident that the growth will continue, and we are currently working on extending our low-emission stainless steel portfolio to be available early next year. Challenges still remain in scaling up green steel production, such as the high initial investment costs, the availability of renewable energy sources, and the sufficiency of recycled steel as raw material. We are eager to further develop the demand for green steel together with our stakeholders”, he adds.
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Outokumpu evaluates that the demand for green steel is expected to surge significantly within the next few years, but the pace for accelerating the global green transition should be faster to reduce the climate impact of the industry. Several factors are driving the demand: increasing focus on sustainability, stricter environmental regulations, i.e. carbon pricing, innovations in green steel production, and growing interest in low-emission solutions in certain industry sectors due to ambitious climate targets. For stainless steel, these sectors are especially automotive, heavy industry, energy and consumer goods.
