European metals trading software firm Metalshub is going to work with a UK carbon emission data specialist to help companies in steelmaking materials procurement get a better handle on scope three emissions being generated in their supply chains.
Using Minviro’s analytical software and expertise, Dusseldorf-based Metalshub said it planned to offer Product Carbon Footprint (PCF) data for steelmaking raw materials “at the point of purchase”.
Metalshub said Minviro’s data was based on a “cradle-to-gate approach, following ISO 14040, ISO 14044 and ISO 14064 standards”, to capture mine-to-metal impacts.
“To receive a PCF estimate, the type of commodity, the production process and the material’s country of origin need to be entered on the Metalshub platform,” Metalshub said.
“Now the purchasing decision can not only depend on the best offer but also on how it contributes to the decarbonisation goals of a buying organisation.”
Raw materials are the largest contributor to scope three emissions for steel mills, Metalshub says.
Company co-founder and joint managing director, Dr Sebastian Kreft said the partnership with Minviro came at a “crucial point when the industry is transitioning to sustainable and transparent supply chains”.
“With Metalshub’s fully digitalised procurement process and reliable PCF data from Minviro, the mining and metals sector can take data-driven decisions to reduce carbon footprint in Scope 3 and achieve sustainability goals,” he said.
Kreft and Dr Frank Jackel co-founded Metalshub in London in 2016. The company raised US$3 million of seed funding in 2018 and a $11 million series A financing round in 2021.
“The metals industry is the backbone of many industrial supply chains,” the founders said.
“The global market for the industrial metals currently traded over Metalshub exceeds $300 billion, but its commercial processes are still dominated by email and spreadsheets.
“We founded Metalshub in London in 2016, out of frustration with the way our industry operated.
“We saw how cumbersome, inefficient, and opaque the buying and selling of raw materials was.
“It was easier to track a pizza order costing €12 than a metals deal involving millions.”
