Outokumpu is launching a new circularity initiative, Outokumpu Inner Circle, to strengthen the circular economy in Europe. The initiative will bring transparency to supply chains and smoothen the path from stainless steel to usable scrap, and from scrap to ever more sustainable stainless steel production – ultimately creating a closed loop for steel scrap. This initiative is the first of its kind for the industry.
“Circularity is one crucial element of sustainable stainless steel production. With the Inner Circle initiative, we are bringing our customers and scrap suppliers together to ensure an efficient, transparent, and sustainable supply chain for steel scrap. Ultimately, our vision is to create a visible closed loop for steel – a unique example of circular economy in action,” explains Max Menzel, Head of Sustainability & Technical Customer Service at Outokumpu.
By using existing, efficient supply chains, the ways for the scrap from customers back to the producers can be shortened. Transparency and ESG conformity throughout the supply chain will be ensured by verifying all partners within this initiative.
Outokumpu’s role is to steer the initiative and create networks between customers and verified scrap suppliers. The scrap suppliers’ role is to ensure a sustainable supply chain by providing scrap from the network’s partners and to distribute the scrap sustainably. Customers who join the program will bring their scrap back into the cycle after processing the material or by the end of the product’s life cycle via the scrap suppliers.
