Standard Owner Benchmark - ResponsibleSteel

By CommonShare

ResponsibleSteel is an initiative and certification program focused on promoting responsible sourcing and production practices in the steel industry. It was established to address sustainability challenges and improve the social, environmental, and governance performance of steel production.

ResponsibleSteel aims to drive positive change throughout the steel supply chain by setting standards and criteria that steel producers must meet to obtain certification. These standards cover a range of areas, including greenhouse gas emissions, water usage, labor rights, health and safety, and stakeholder engagement. By adhering to these criteria, steel producers can demonstrate their commitment to responsible and sustainable practices.

The initiative was launched in 2018 as a global, multi-stakeholder effort. It involves participation from various industry stakeholders, including steel producers, suppliers, customers, NGOs, and civil society organizations. ResponsibleSteel works to develop and refine its standards through a collaborative and transparent process, incorporating feedback from a broad range of stakeholders.

By certifying steel producers, ResponsibleSteel aims to provide assurance to customers and other stakeholders that the steel they source or use has been produced in a responsible and sustainable manner. This certification helps companies align with their sustainability goals and requirements, as well as meet the growing demand for environmentally and socially responsible products.

ResponsibleSteel also plays a role in driving continuous improvement in the steel industry by providing guidance, knowledge sharing, and capacity building. It encourages steel producers to adopt best practices and implement measures to minimize their environmental impact, enhance worker safety, and engage with local communities.

Overall, ResponsibleSteel is an important initiative that seeks to promote sustainable practices within the steel industry. By setting standards, certifying producers, and fostering collaboration, it aims to drive positive change and support the transition towards a more responsible and sustainable steel sector.

Overall Rating

2.2
Undistinguished

Governance

The certification uses a multi-stakeholder, independent governance model to support the development of the standards related to the certification.

Supply Side Digitization

Details on the certificate are easily available via technology for inclusion in third party digital applications.

Buy Side Availability

Buy side availability details out how easy it is for consumers to find products and companies exhibiting the standards offered by the certification.

Relevance

This considers the scale of the certification, and the number of products and companies that currently contribute to the certificate. National and local certification are normalized with countries.

Digital Accessibility

How easy is it for innovative new companies, startups, and local retailers to have the same access and affordable pricing models to use standard information in digital applications.
ResponsibleSteel
United Kingdom
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How our Standard Owner Benchmark® Works?

By CommonShare

This is a benchmark to help companies understand which standards should be part of a sustainable procurement plan. Further, the benchmark allows standard setting schemes, i.e. "Standard Owners", to benchmark their performance versus industry peers.