Metrics for the sustainability value of steel

Abstract

The European Commission’s Europe 2020 strategy is about delivering smart, sustainable and inclusive growth. The steel industry is striving to adapt to this new business model. The first part of this article will demonstrate how the steel industry can address the environmental constraints of the future, and explain the methodological challenges that tools such as Life Cycle Assessment are facing in developing reliable indicators. The second part will touch on the social dimension of sustainability that is often neglected in the debate because it is difficult to demonstrate its contribution in a company value chain. Two approaches will be presented. The first one derives from the well-being indicators proposed by the OECD and the second one is on the growth of an inclusive business model that targets low-income populations. Finally, the article concludes by explaining the ambition of the Sovamat initiative, which seeks to identify the role of structural materials in society and to analyse the sustainable value of materials.