SCIENCEBASEDTARGETSDRIVING AMBITIOUS CORPORATE CLIMATE ACTIONSTEEL SCIENCE-BASEDTARGET-SETTINGGUIDANCEVERSION 1.0JULY 2023ACKNOWLEDGMENTSThe SBTi is a global body enabling businesses to set ambitious emissionsreductions targets in line with the latest climate science.It is focused on ac-celerating the progress of companies across the world to halve emissionsbefore 2030 and achieve net-zero emissions before 2050.The initiative is a collaboration between CDP,the United Nations GlobalPrimary authors:Compact(UNGC),World Resources Institute(WRI)and World Wildlife Fundfor Nature(WF)and is one of the We Mean Business Coalition (WMB)Brenda Chan,CDPcommitments.The SBTi defines and promotes best practice in science-Karl Downey,CDPbased target-setting,offers resources and guidance to reduce barriers toRafal Malinowski,ETCadoption,and independently assesses and validates companies'targets.Sophie Slot,ETCDuring the development of this work,we engaged Energy TransitionsCommission(part of Mission Possible Partnership [MPP])as our technicalReview team:partner to develop the methodology and pathways.We would liketoacknowledge their in-depth knowledge and contribution to this project.Ayla Dincay,WMBSpecial thanks go to Alasdair Graham and Faustine Delasalle who haveFernando Rangel Villasana,WWFsteered the SBTi and MPP collaboration behind the scenes.Lucas Bartol-Bibb,CDPMichael Danielson,WRIIn September 2022,the MPP and the SBTi formed a technical colla borationPeter Nystrom,WWFto enhance the compati bility of the SBTi Sector Projects and MPP SectorZola Berger-Schmitz,WRITransition Strategies,to provide companies in high-emitting sectors with asimplified roadmap to scale climate actions and accelerate decarbonizationin line with 1.5'C.This project on steel is the first fruit of that partnership,asOther contributors:the development of the pathways with ETC built upon previous work by MPP.Aamir Khan,CDPFor this guidance and throughout the methodology development process,Alasdair Graham,ETCwe received invaluable insights and technical review from our ExpertPaulina Moreno,WFAdvisory Group (EAG)through the monthly meetings,bilateral exchange,inperson discussion and email communications.We are truly grateful for alltheir contributions of time and expertise.A two-month public consultationheld in November 2022 to January 2023 proved to be beneficial to gainbroader inputs and comments from all stakeholders in the steel sector andthe supply chain.Last but not least,we would like to acknowledge the SBTi TechnicalReview Team for their time and support to review this guidance andimprove its clarity.Steel Science-Based Target-Setting Guidance