By Noelia García Nebra,
Head of Sustainability and Partnerships, ISO
LinkedIn
If there’s one lesson I learned from last week’s Villars Institute Ocean Forum, it’s this: without harmonized standards, data cannot deliver impact, whether for oceans or industry. The path to a net-zero future depends on every industry doing its part, and few are more pivotal than the steel and aluminium sectors.
These industries are foundational to how we live, work and move. From the cities we build to the cars we drive, aluminium and steel are indispensable. But they have a cost, particularly when it comes to their carbon footprint. Their production, still heavily reliant on fossil fuels, accounts for a significant share of global industrial emissions.
At the recent WEF FMC (First Movers Coalition) metals roundtable, I had the privilege of joining some of the brightest minds in the metals industry to delve into the challenges we face in decarbonization. The discussion was candid and insightful, but it quickly became clear that the key to progress is not just in innovation, but in harmonized standards. Without a unified framework for carbon accounting, the road to near-zero metals becomes much harder to navigate.
With demand for aluminium in particular set to soar by 40 % by 2030, the urgency to act is undeniable. The question now is: how do we accelerate change? How do we create a consistent, transparent marketplace for near-zero metals that fosters trust, drives investment and scales innovation?
Barriers to decarbonization
One of the primary obstacles we discussed at the roundtable was the fragmentation of carbon accounting standards. Right now, there’s no universal definition of “green”, no unified system for measuring and verifying emissions reductions across different projects and industries. This lack of clarity creates a huge problem. How can we price near-zero metals or create a market for them if there’s no consensus on what constitutes a “green” product?
Equally critical is the question of who bears the risk of decarbonization: the producers, investors or consumers? Without harmonized standards, this risk is absorbed inconsistently, and often opaquely, across the value chain, driving up the overall system costs.
The fragmentation isn’t just theoretical – it’s real and costly. Multiple certification schemes, conflicting requirements and overlapping frameworks complicate the entire process. The result? Increased costs, wasted time and stalled progress. What we need is a single, harmonized standard for emissions accounting. Only then can we provide the transparency and trust necessary to unlock the potential of near-zero metals.
Decarbonization is a monumental challenge, but it’s also a tremendous opportunity.
Why harmonization matters
In a fragmented market, it’s hard for companies to know where to invest, what to measure and how to verify progress. But when standards are harmonized, everyone plays by the same rules.
By adopting a common framework for measurement, reporting and verification, we can ensure consistency across borders and sectors. This consistency builds trust – among buyers, investors and regulators – and opens the floodgates for investment in sustainable technologies. When we can trust the data, we can trust the market. That trust will drive scalability, and scalability is the key to decarbonization.
But it’s not just about making life easier for companies. Harmonization also means less red tape, fewer audits and a clearer path for policymakers to embed consistent requirements into law. This lowers the cost of compliance and eliminates the confusion and delays that are all too common today.
Partnering for progress
ISO is actively working to address this fragmentation. In collaboration with the Greenhouse Gas Protocol (GHGP), we’re harmonizing our existing GHG standards and co-developing new ones to provide a cohesive and universally accepted approach to emissions accounting. This will lay the groundwork for a globally interoperable market for near-zero metals.
Looking ahead, we have set ourselves an ambitious goal: By 2028, we aim to have built the standards infrastructure required to create functioning carbon markets, consistent regulation and harmonized emissions reporting. This portfolio of aligned standards will make it easier for companies to report, measure and verify their emissions. It will simplify the process for producers and create a level playing field for all.
As a signatory to the Steel Standards Principles initiative, ISO is also collaborating with key industry organizations to advance aligned, credible standards for near-zero steel. This is just one example of how we are reinforcing our commitment to transparency, coherence and global access.
Decarbonization is a monumental challenge, but it’s also a tremendous opportunity. By aligning on standards and creating a transparent, trusted marketplace for near-zero metals, we can unlock the full potential of these critical industries. The path to net-zero might not be easy, but with the right tools, partnerships and commitment, it’s a path we can all take – together.