2. Definition and Need for Avoided Emissions
for Quantifying Avoided Emissions
Steps and Considerations
The transition to a carbon-neutral society is a challenging task that requires innovation and
transformation in all sectors of the economy and society. A carbon neutral society cannot be achieved
without comprehensive changes in all aspects of our lives including industries, transportation, commerce,
and our homes in addition to decarbonizing the energy sector.
Expectations for businesses fulfilling their role in reducing emissions and developing innovative technologies are greater than ever. Along with GHG emissions from its own facilities, companies are also required to reduce emissions across the entire value chain. Companies have no option but to put efforts to develop ways to reduce emissions throughout the entire life cycle of their products and value chains.
The steel industry has recognized that contributing to reducing carbon footprint is essential and has
strived to reduce emissions not only in the manufacturing process, but also in the use phase of steel
products. This is more holistic and collaborative way of sharing efforts and burdens of emissions
reduction among industries.
Despite these new demands and efforts, however, there are no internationally or domestically recognized
standards that can help quantify the social reduction effect of goods produced in different industries
including the steel industry.
The Korea Business Council for Sustainable Development (KBCSD) and the Korea Iron and Steel
Association (KOSA) published guidelines for quantifying avoided emissions. The purpose of these
guidelines is to help businesses in the iron and steel industry understand what “avoided emissions” are,
and report their impact on society in a more objective and reliable manner. These guidelines can also be
a reference for other industries, and its publication can be an important milestone in transitioning to a
carbon neutral society and achieving sustainable development.
해당 보고서는 [KBCSD-한국철강협회] 한국 철강산업 사회적 온실가스 감축 산정 보고 가이드라인의 영문판입니다.
□ 첨부: <Accounting and Reporting Guidelines for Avoided GHG Emissions Along the Value Chain of Steel Products and By-Products(220125).pdf>