October 21, 2021

Severstal becomes first Russian company to join ResponsibleSteel

PAO Severstal, one of the world's leading vertically integrated steel and steel-related mining companies, has become the first company in Russia to join ResponsibleSteel, the first global multi-stakeholder standard and certification initiative with a mission to maximise steel’s contributions to a sustainable society.

As a member of ResponsibleSteel, Severstal will collaborate with organisations from across the steel supply chain, exchanging experience and contributing to the development of new standards aimed at improving the sustainability of the global steel sector.

ResponsibleSteel members comprise over 100 global business and civil society organisations representing the whole steel supply chain from mining through steel production to buyers of steel from the automotive and construction sectors, as well as civil society organisations focused on human rights, biodiversity, climate change and other key issues.

Today, greenhouse gas emissions from the steel sector alone account for around 7% of global annual emissions, and this is projected to rise in line with increasing demand. There is less than 10 years to halve global carbon emissions to get the world on track to reach net zero by mid-century and decarbonising steelmaking needs to be a critical part of that journey.

Russia is the 5th largest steel producer in the world, responsible for 7.5% of global steel production.

Alexander Shevelev, CEO of Severstal, commented:

“Joining ResponsibleSteel reflects Severstal’s commitment to collaborating with the industry and its stakeholders to set and demonstrate new best-in-class standards for responsible steel production. As the first member from Russia, Severstal is excited to promote the principles of ResponsibleSteel in our country, which is a major steel-producing region.

We look forward to contributing to the development of the ResponsibleSteel standard, which aims to recognise steel sites that are operated in a responsible manner, looking at environmental, social and governance issues. It is increasingly important that we can demonstrate to our stakeholders, including our customers, that we take a responsible and sustainable approach to every aspect of our operations. Due to its 100% recyclability and durability, steel has an important role to play in the circular economy. However, steel can only be considered a sustainable material if producers continue to reduce their impact on the environment and make a positive contribution to society.”

Anne-Claire Howard, CEO ResponsibleSteel, said:

“We are delighted to welcome Severstal as a member of ResponsibleSteel. We work with organisations from every stage of the steel supply chain from mining, steel producers and downstream companies. Partnering with companies such as Severstal – one of the top 50 steel producers in the world – will help demonstrate the opportunity to produce steel in a responsible way and accelerate the steel industry to become net zero by 2050.

Joining ResponsibleSteel demonstrates Severstal’s strong commitment to help drive decarbonisation of the steel industry and sends a clear signal to other steel companies to follow in their footsteps. For us to be within a fighting chance of transitioning the steel sector to one which is net zero in less than thirty years is a massive undertaking and will require the leadership and vision of many companies in the steel sector.”