Severstal, Schneider Electric and Air Liquide have come together to support a low-carbon future under a newly developed climate memorandum.

Developed by Severstal amid COP26, the climate memorandum has outlined five commitments which it aims to achieve in order to push forward a decarbonised future.

Implementing climate agenda in the practice of corporate governance, assessing greenhouse gas emissions and setting reduction targets and managing climate risks and adapting to climate change are all on the agenda.

Supporting the development and implementation of low-carbon technology and building climate-responsible interaction with stakeholders are also key priorities for the trio.

Already, each of the parties have individually made headways towards the goals they have collaborative set, for example, Air Liquide has committed to carbon neutrality by 2050.

The steel industry will undoubtably be a focus for the consortium due to Severstal being a leaving steel production company in Russia.

Severstal is one of the first steel producers in Russia to calculate its scope 3 greenhouse gas emissions and is working closely with businesses that contribute to emissions ‘hot spots’ in the company’s supply chain to help them reduce their carbon footprint.

Alexander Shevelev, CEO of Severstal, said, “Severstal pays close attention to the issue of climate change. We take great efforts to minimise the carbon footprint of our own cooperation and also collaborate with our partners on joint decarbonisation initiatives.

“Agreements between manufacturers and suppliers of good are services that declare a common commitment to decarbonisation are becoming common practice in the global business community.”

“I am delighted that Severstal’s initiate has already been supported by two international companies – Schneider Electric and Air Liquide. I am convince that only environmentally responsible companies and organisation that truly share our concern about climate change will be able to demonstrate in practice the principles set out in the memorandum.”

Marilene Turcottte, General Manager, Air Liquide Russia, added, “We are happy to be part of the climate memorandum and to explore with our long-term partner Severstal ways to decarbonise the steelmaking industry.”

“As an industrial company, Air Liquide is committed not only to reaching carbon neutrality by 2050, but also to providing its customers with a wide range of solutions and expertise to decarbonise their own activities.”