The resulting framework positions lenders to facilitate the net-zero transition of the steel industry - the largest source of industrial emissions globally. The Principles were carefully designed over the course of a year by a working group facilitated by RMI, led by ING and co-led by Societe Generale, with participation from Citi, Standard Chartered and UniCredit. Designed to support the practical achievement of net-zero emissions in the steel industry, they also provide the tools necessary for client engagement and advocacy. The SSP are the turn-key solution for measuring and disclosing the 1.5 ° C alignment of steel lending portfolios.
In partnership with RMI, Societe Generale, along with six top lenders to the global steel sector -Citi, Crédit Agricole CIB, ING, Standard Chartered and UniCredit -announced today the signing of the Sustainable STEEL Principles (SSP), the first Climate-Aligned Finance (CAF) agreement for lenders to the steel industry. Societe Generale, together with five other leading banks - C iti, Crédit Agricole CIB, ING, Standard Chartered, and UniCredit - will measure and disclose their steel-related loan emissions via the Sustainable STEEL Principles (SSP), the first climate-aligned finance agreement for the steel industry.
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