Steel Decarburization Standard

 Steel Decarburization Standard

On December 21, 2022, the WTO Secretariat published a new information note on decarbonization standards for the steel industry entitled "Decarbonization standards and the steel industry: how the WTO can support greater coherence", emphasizing the need to address development The importance of China's national demand for decarbonization standards. The note was released ahead of a global stakeholder event on the WTO Steel Decarbonization Standard to be held on 9 March 2023.

The WTO Secretariat stated that there are currently more than 20 different steel industry decarbonization standards and initiatives around the world, which may bring uncertainty to global steel manufacturers, increase transaction costs, and bring risks of trade frictions. The note to the note points out that the WTO still needs to do further work to strengthen the consistency of global standards, including finding areas of further convergence in terms of specific measurement methods for decarbonization, and ensuring that the perspectives of developing countries are considered is crucial.

At the United Nations Climate Change Conference (COP27) in Sharm el-Sheikh, Egypt, in November 2022, WTO Director-General Ngozi Okonjo-Iweala called on countries to implement trade-related climate policies, including in Strengthen international cooperation on decarbonization standards. Achieving global net-zero goals requires a consistent approach to measuring greenhouse gas emissions. However, standards and certification methods in different countries and sectors are not uniform, which may lead to fragmentation and create barriers to trade and investment.

The WTO Secretariat will host an event on March 9, 2023 on the theme "Standards for decarbonizing trade: Promoting consistency and transparency in the steel industry". The event focused on the steel industry, inviting representatives of WTO member states to gather with industry leaders and experts to facilitate multi-stakeholder dialogue on how consistent and transparent standards can accelerate the global promotion of low-carbon steelmaking technology and avoid trade frictions key role. The event will be broadcast live from Geneva, Switzerland.

The event will build on the results of the WTO Secretariat's analytical work on the carbon standard, including the Trade and Climate Change Information Note series and the World Trade Report 2022, which highlights emerging trade-related climate measures, including carbon pricing and carbon standards) fragmentation risk. 

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