Steel Standards Principles

The Steel Standards Principles were launched by WTO Director-General Dr. Ngozi Okonjo-Iweala at COP28 in Dubai.

The Principles recognize that the iron and steel sector accounts for approximately 8% of annual global greenhouse gas emissions and that these emissions will need to be reduced by at least 90% for the sector to play a credible role in achieving climate targets. They call for establishing common methodologies on measuring greenhouse gas emissions within the iron and steel sector in order to accelerate the transition to near-zero emissions.

They are endorsed by more than 50 standard setting bodies, international organizations, steel producers and industry associations. The Principles have been endorsed by the WTO Secretariat under its own responsibility. Since their launch in December 2023, the endorsing organizations have been meeting periodically to discuss further implementation of the Principles.