Steel, is critical to the wind turbines, solar panels and electricity pylons needed to displace fossil fuels. At the same time the steel industry is a huge emitter of CO2. It is reliant on burning billions of tons of coal, with the industry emitting more carbon dioxide than cars, buses and motorbikes combined.
Nucor is a leading North American producer of merchant bar & rebar, engineered bar, structural steel, carbon steel plate, and sheet steel products and technologies thanks to an ongoing commitment to innovation.
Econiq™ is the world’s first net-zero carbon steel at scale, introduced to offer steel consumers emissions-free steel products to help meet their sustainability goals. The Econiq certification will cover all of Nucor’s steelmaking product line, the most comprehensive in the U.S. market.
By introducing Econiq, Nucor is providing confidence for steel consumers to know they are purchasing the lowest greenhouse gas (GHG) emissions steel product available. A first of its kind at scale for the United States steel industry, Econiq will be available across Nucor’s steelmaking product lines, the broadest and most diversified offerings in the U.S. market. General Motors, will be Nucor’s first customer for Econiq beginning in the first quarter of 2022.
Nucor has been working on reducing emissions for some time now. In 2020, it was the 7th largest corporate buyer of renewable electricity in the U.S. through Virtual Power Purchase Agreements. Econiq is made using 100% renewable electricity (Scope 2), with Scope 1 emissions eliminated through the purchase of carbon offsets. The company is currently evaluating how to remove Scope 3 emissions.