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It is a step toward achieving the company’s sustainability goal of net-zero emissions by 2050.
GRN Steel “provides our customers with net zero-carbon steel solutions as they build tomorrow’s essential infrastructure [and] represents a critical next step for our company as we offer sustainable solutions to meet the needs of an increasingly metal-intensive economy,” chairman and chief executive officer Tamara Lundgren said in a statement.
Cascade will partner with ACT Commodities, a carbon offset broker, to identify carbon offset projects to address Scope 1 emissions from the production of GRN Steel, the company said. Upon selling GRN Steel products, Cascade will retire credits on behalf of a customer in an amount commensurate with the carbon footprint of steel ordered.
“Cascade has created some of the lowest carbon emission steel products in the world through electric-arc furnace technology powered by primarily carbon-free hydroelectricity,” chief of steel operations Matt Ruckwardt said. “GRN Steel further reduces the limited Scope 1 and 2 emissions generated during our manufacturing process through a carbon offset and renewable energy credit purchase program.”
The net-zero products help the company align with the Paris Climate Agreement and United Nations goals, Schnitzer chief sustainability officer Judodine Nichols said.