Climate Lobbying Overview: SSAB appears to strategically engage with climate policy in the EU and US with mixed positions, with more positive engagement in recent years. The company’s progressive positions on renewable hydrogen and the need for green steel standards contrast with more mixed positions on key policies such as the EU Emissions Trading System (EU ETS) and Carbon Border Adjustment Mechanism (CBAM) in 2021-23.

Top-line Messaging on Climate Policy: SSAB appears to support ambitious climate action in its top-line messaging. In response to an EU public consultation in November 2021, the company stated support for the EU’s Climate Law which aims to make the EU climate neutral by 2050. In a November 2022 press release, SSAB advocated for the steel sector to align with a 1.5-2°C pathway and supported the need for regulatory frameworks and global carbon pricing mechanisms. In March 2022, in a meeting with the EU Commission, SSAB strongly supported the Fit for 55 package. However, in a January 2023 press release the CEO Martin Lindqvist seemed to emphasize the importance of remaining competitive and the need for a level playing field, although he strongly supported the need for a regulatory framework to reduce emissions. In the company’s 2021 Annual Report, published in March 2022, the company supported the goals of the UN Paris Agreement.

Engagement with Climate-Related Regulations: SSAB appears to take mixed positions on specific climate regulations in the EU. In response to an EU public consultation in November 2021, SSAB stated support for increasing the EU’s 2030 target to 55% emissions reductions. In February 2021, in response to another EU public consultation, SSAB did not support most reforms to increase the ambition of the EU Emissions Trading System (EU ETS), and was unsupportive of proposals to reform carbon leakage protection measures in the policy. However, SSAB’s CEO signed a joint letter in June 2021 stating support for aligning the EU ETS with the EU’s increased climate ambition. In response to an EU public consultation in November 2021, SSAB supported phasing out the free allocation of emissions allowances in the EU ETS alongside a Carbon Border Adjustment Mechanism (CBAM) and advocated for the inclusion of indirect emissions in the CBAM, which would increase the scope of the policy. However, it supported including export rebates, a position which is misaligned with the EU Commission’s proposal. The company’s Europe CEO, Olavi Huhtala, signed several open letters to the European Parliament in May and June 2022 advocating against ambitious proposals for the reform of the EU ETS and the CBAM.

A joint letter signed by the CEO in June 2021 strongly supported the EU’s increased 2030 renewable energy target of at least 40%, and advocated for the strengthening of the Energy Efficiency Directive and EU energy efficiency legislation for buildings. In March 2022, in a meeting with the EU Commission, the company was in favor of more efficient permitting for renewable energy projects in the EU to speed up the roll out of hydrogen which can achieve climate neutrality. In November 2022 in a press release, SSAB supported ambitious standards for near-zero emissions materials. However, in its 2021 CDP Climate Change Disclosure, SSAB appeared to stress concerns around the economic and technical feasibility of new GHG standards for industry in the US.

Positioning on Energy Transition: SSAB appears to support the energy transition, in particular scaling up green and low-carbon hydrogen. On its corporate website, accessed in January 2022, the company supported the decarbonization of the steel industry, and in its 2021 CDP Climate Change Disclosure it advocated for carbon contracts for difference in the EU to support breakthrough decarbonization technologies. The CEO Martin Lindqvist signed a joint letter in June 2021 supporting a 100% clean energy mix and the phase out of coal by 2040 in the EU. In response to an EU public consultation in April 2022, SSAB supported increasing the ambition of the Hydrogen and Gas Market Decarbonization Package, specifically advocating for a more ambitious definition of low-carbon hydrogen. In March 2022, in a meeting with the EU Commission, the company strongly supported the decarbonization of the steel sector with renewable hydrogen, advocating against "almost green" technologies, and supporting state aid to avoid locking in old technologies.

Industry Association Governance: SSAB disclosed a list of industry associations it is a member of but with no further details of the groups’ climate policy positions, nor did it disclose the company’s roles within the organizations. The company has not disclosed a review of climate policy alignment with industry associations. SSAB retains influential positions in several industry associations which are lobbying negatively on climate change policy, such as Eurofer in Europe and the National Association of Manufacturers in the US.

InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q1 2023.