Brandnew evaluation allows marketplace to quantify carbon emissions additional up the steelmaking worth chain in layout with evolving reporting and regulatory necessities
SINGAPORE and NEW YORK and LONDON, Sept. 25, 2024 /PRNewswire/ — Platts, a part of S&P World Commodity Insights, the well-known isolated supplier of data, information, research, benchmark costs and workflow answers for the metals, commodities, power and effort transition markets, as of late proclaims the then origination of the sector’s first day by day carbon-accounted iron ore worth exams and similar carbon depth estimates to deliver higher transparency to the business’s decarbonization efforts.
The pristine carbon depth line includes a day by day carbon-accounted iron ore evaluation incorporating Platts international benchmark 62% Fe iron ore index (IODEX) and a carbon depth top class reflecting the price of offsetting greenhouse gasoline emissions within the mining and transportation of iron ore the use of carbon credit.
The Platts IODEX Carbon Depth Top class displays carbon intensities of the mining, inland transportation, loading, and delivery of iron ore from key ports in Australia and Brazil to Qingdao in China, multiplied through Platts Carbon Removing Credit score Evaluation (CRC), which displays nature- and technology-based carbon credit.
Carbon-Accounted IODEX is the sum of Platts IODEX and the IODEX Carbon Depth Top class and marks a primary such evaluation for iron ore, the important thing aspect worn within the break out furnace-basic oxygen furnace path that accounts for greater than 70% of the sector’s crude metal output.
The origination meets rising informational wishes through international metal manufacturers, processors, end-users and investors, as they adapt to evolving regulatory and reporting necessities.
This pristine line enhances Platts Carbon-Accounted Metal Top class (CASP) providing for completed metal, development on greater than a while of CASP worth historical past for Ecu hot-rolled coil, and follows the September 2024 origination of world-first CASPs for rebar and medium categories.
Niki Wang, Senior Managing Writer, Iron Ore at S&P World Commodity Insights commented, “We are pleased to announce the launch of Commodity Insights’ first carbon intensity offering for metals, supporting the Platts IODEX global benchmark. With iron and steel production accounting for almost 7% of global greenhouse gas emissions, steel’s carbon footprint counts as the top emitter among manufacturing industries, as well as other sectors including construction, energy and transportation. The launch of Carbon-Accounted IODEX will allow market participants to retrace and evaluate emissions at critical junctures, from the mine to the port of discharge.”
“Carbon-Accounted IODEX provides critical context around the carbon footprint of transactions of the iron ore supply chain in a market that is increasingly concerned about their environmental impact,” mentioned Heather Jones, Head of Emissions Technical, Middle of Emissions Excellence at S&P World Commodity Insights. “The information it delivers is a necessary tool to help industry players better understand, track, and ultimately price carbon in their business decisions.”
For more info, the subscriber notice concerning the exams is also discovered right here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/092524-platts-to-launch-worlds-first-daily-carbon-accounted-iron-ore-assessment-iodex-carbon-intensity-premium
Get right of entry to main points of Platts’ worth exams technique right here: https://www.spglobal.com/commodityinsights/plattscontent/_assets/_files/en/our-methodology/methodology-specifications/platts-assessments-methodology-guide.pdf
Platts Carbon-Accounted IODEX, IODEX Carbon Depth Top class and carbon depth estimates are to be had by way of S&P World Commodity Insights services and products, together with Platts Metal Alert, SBB Metal Markets Day by day, Platts Fasten, Platts Marketplace Middle, and the Platts worth database. Platts Carbon-Accounted IODEX, IODEX Carbon Depth Top class and carbon depth estimates shall be to be had from September 30 by way of S&P World Commodity Insights services and products, together with Platts Metal Alert, SBB Metal Markets Day by day, Platts Fasten, Platts Marketplace Middle, and the Platts worth database.
Media Contacts:
Americas: Kathleen Tanzy + 1 917-331-4607, [email protected]
EMEA: Paul Sandell + 44 (0)7816 180039, [email protected]
Asia: Melissa Tan + 65-6597-6241, [email protected]
About S&P World Commodity Insights
At S&P World Commodity Insights, our entire view of world power and commodity markets allows our consumers to manufacture choices with conviction and develop long-term, sustainable worth.
We’re a relied on connector that brings in combination concept leaders, marketplace contributors, governments, and regulators and we develop answers that manage to move. Essential to navigating commodity markets, our protection comprises oil and gasoline, energy, chemical substances, metals, agriculture, delivery and effort transition. Platts® services and products, together with well-known benchmark worth exams within the bodily commodity markets, are introduced thru S&P World Commodity Insights. S&P World Commodity Insights maintains cloudless structural and operational dissolution between its worth evaluation actions and the alternative actions performed through S&P World Commodity Insights and the alternative trade sections of S&P World.
S&P World Commodity Insights is a category of S&P World (NYSE: SPGI). S&P World is the sector’s essential supplier of credit score scores, benchmarks, analytics and workflow answers within the international capital, commodity and car markets. With each one in all our choices, we backup lots of the international’s well-known organizations navigate the industrial soil so they are able to plan for the next day, as of late. For more info seek advice from https://www.spglobal.com/commodityinsights.
SOURCE S&P World Commodity Insights
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