The American Iron and Steel Institute (AISI) has endorsed a plan put forth by the International Iron and Steel Institute (IISI) for the global steel industry to address climate change.
AISI President and CEO Andrew G. Sharkey, III says that the "global sectoral approach" endorsed by the two industry groups will encourage a "race to the top" in which manufacturers worldwide would compete to meet established performance standards. With this approach, carbon dioxide emission data would be collected by steel plants in all major steel producing countries, leading to benchmarking improvements and the setting of commitments for implementation.
"The key advantage of the IISI approach," Mr. Sharkey said, "is that it is supported by its members in both the developed and developing countries, including China, which accounts for approximately 50 percent of total steelmaking CO2 emissions."
Both AISI and IISI have criticized national and regional plans to curb carbon dioxide emissions, such as the EU's cap-and-trade system, arguing that they encourage a "race to the bottom," giving manufacturers an incentive to shift production to countries with the least restrictive standards.
More information regarding the global approach of the AISI and the IISI to climate change is available at www.steel.org.