Korea Iron & Steel Association-KBCSD Publish 'Korean Steel Industry Social Greenhouse Gas Reduction Calculation Guidelines'

[Asia Economy Reporter Hwang Yoon-joo] The Korea Iron & Steel Association has released a report to support the calculation of social greenhouse gas reduction amounts in collaboration with the Korea Business Council for Sustainable Development (KBCSD).

On the 26th, the Korea Iron & Steel Association announced that it had published the report titled 'Guidelines for the Calculation and Reporting of Social Greenhouse Gas Reduction in the Korean Steel Industry.'

The guidelines were prepared based on various internationally recognized and widely used guidelines and research materials developed or utilized at the national, industry, and corporate levels regarding social greenhouse gas reduction.

In particular, as the first domestic collaborative project for consistent guideline-based quantitative reporting to achieve social reduction in the steel industry, it includes principles for calculating and reporting social greenhouse gas reductions, calculation procedures, considerations, verification, and reporting. It also contains the concept and necessity of social reduction along with three case study examples.

Going forward, KBCSD plans to distribute and promote the Korean and English versions of these guidelines to CEOs in domestic and international industries, the National Assembly, government, media, academia, international organizations, embassies in Korea, and Korean chambers of commerce abroad, and will seek ways to contribute to the realization of a carbon-neutral society through the continuous development of social reduction guidelines applicable to other industrial sectors.

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