Ovako has today published climate declarations, outlining the carbon footprint rendered by the companys products from cradle to gate. The declarations help clarify that the CO2 footprint of Ovakos bar steel products is approximately 80 percent lower than the world average.
The iron and steel industry accounts for approximately seven percent of total world CO2 emissions¹. When adding also the upstream consumables and raw materials, and the production and transport thereof, the figure is even higher. Improving the cradle to gate footprint of the global steel production is therefore highly relevant for the world to meet the Paris climate agreement. At the same time, there has been very little data available for steel customers to make informed decisions about the difference in carbon footprint between products from different producers.
Ovakos climate declarations help enable a true comparison of Ovakos carbon footprint per kilo finished steel product, cradle to gate, compared to the world average. It helps customers make steel purchasing decisions based on differences in carbon footprint, and in turn also to make their own product climate declarations.
By publishing climate declarations, we enable customers to make informed decisions about their procurement of steel. It also gives customers with steel-intensive products the opportunity to create world-leading carbon footprints of their own, said Marcus Hedblom, President and CEO at Ovako. The information we have published today underline that there is a big difference between steel and steel in carbon footprint. For every kilo of finished steel product that a customer buys from Ovako, the CO2 emissions are roughly 80 percent lower than the world average cradle to gate footprint.
Ovakos climate declarations have been produced based on a report by Swerea IVF and verified by two external consultancies. The climate declarations are publicly available on the international EPD Systems website.