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Greenhouse Gas Emissions Reduction Initiative
Taylor Steel is pleased to announce that our company is undertaking a comprehensive greenhouse gas emissions study, covering both Scope 1 and Scope 2 emissions.
Scope 1 emissions refer to the direct greenhouse gas (GHG) emissions from sources that are owned or controlled by our company, such as fuel combustion in our vehicles and equipment. Scope 2 emissions, on the other hand, refer to indirect emissions from the generation of purchased electricity consumed by our company.
We will be working with industry experts to conduct the study and ensure that our findings are accurate and reliable. We are anticipating completion of the study in Q2 2023.
This study will allow us to identify the sources of our emissions, measure our impact on the environment, and develop strategies to reduce our GHG emissions. We believe that our efforts to reduce emissions will not only benefit the environment but also improve our overall sustainability and enhance the strong relationships we have with our stakeholders.
For service centres — companies like us, who buy, sell, and process but do not produce steel, the single largest impact on greenhouse gas emissions is what are classified as Scope 3 emissions. These include steel making emissions and emissions produced when transporting steel from producing mill to the service centre. Steel produced overseas (often with little or no environmental oversight) has to be shipped a long distance and therefore has a much larger GHG footprint than steel produced within close proximity to the service centre. In fact, an imported coil from overseas can have up to 10X the greenhouse gas emissions as a coil produced locally.
We are proud of our dedication to our local steel producing partners which minimizes our impact on the environment compared to those in our industry who choose to import steel from steel mills located overseas.
We encourage our customers and suppliers to join us in our commitment to reducing greenhouse gas emissions. Together, we can make a positive impact on the environment and create a more sustainable future for generations to come.
Thank you for your continued support and partnership.
Taylor Steel Inc.