thyssenkrupp Materials Services Eastern Europe signs MoU with CarbonChain

thyssenkrupp Materials Services Eastern Europe has signed a landmark MoU with CarbonChain to build an ecosystem of carbon transparency in the metals industry.

thyssenkrupp Materials Services Eastern Europe, the leading industrial materials partner in the eastern European market, has reached a Memorandum of Understanding (MoU) with specialist carbon accounting software provider, CarbonChain, to develop an approach to track metal production greenhouse gas emissions and define standards for supplier transparency.

Together, both companies will foster the adoption of digital solutions to track GHG emissions across supply chains. This project is set to enhance transparency for thyssenkrupp Materials Services Eastern Europe, alongside other industry leaders, with detailed insights into its supply chain carbon hotspots, product carbon footprints, and opportunities for emissions reductions.

The overall goal is to support thyssenkrupp Materials Services' wider announced decarbonization goals. Suppliers will be able to join in the effort for their own reporting and emissions reduction targets.

Jörg Heiles, CEO Operating Unit Materials, thyssenkrupp Materials Services Eastern Europe, said:

“Integrating GHG transparency into the supply chains of thyssenkrupp is critical. By joining forces with suppliers like mills and using CarbonChain's leading technical solution, the industry can start to build high fidelity emissions transparency, so that decarbonization decisions can be made at the supplier, product, and company levels.

Engaging with our suppliers will help us prepare our supply chains for reporting and carbon pricing regulation, develop meaningful climate goals, and support our ongoing policy engagement.”  

Adam Hearne, CEO and Co-founder, CarbonChain, said:

“A missing piece for steel decarbonization is supplier engagement with accurate carbon accounting. 

Combining CarbonChain's carbon accounting expertise with thyssenkrupp's deep rooted industry presence will be a vital tool to spur transparency and decarbonization across intersecting steel supply chains."