Analysis of the interaction between policy concerning the decarbonisation of the UK constructional steel industry and transnational private regulation

Introduction?

This article will analyse how transnational private regulation of the constructional steel sector interacts with the climate change policy of the United Kingdom (UK). A discussion of the interaction between private law and national policy will present theoretical research and provide an independent overview of the regulatory framework impacting the decarbonisation of the UK steel industry.

Context

The implications of the multilateral treaties The Kyoto Protocol, and subsequent Paris Agreement 2015, which “provides for the international community to keep the increase in global average temperature to well below 2°C above pre-industrial levels, and to pursue efforts to limit the temperature increase to 1.5°C”[1] have targeted the steel sector, which Knight and Walker report is responsible for 14% of the UK’s industrial emissions.[2] As an industry pivotal to meeting the net zero emissions goal by 2050 established by The Climate Change Act 2008, The Greenhouse Gas Emissions Trading Scheme Order 2020 establishes the UK Emissions Trading (ETS) scheme, hosted by?ICE?Futures Europe (ICE). The ETS requires that intensive industries beyond a specified free allowance[3] must purchase carbon credits to offset emissions at auction. The amount of carbon credits available is capped and reduced on an annual basis, whilst enabling businesses with a predictable timeframe in which to adapt to responsible practices. This has led to elevated costs reflected in pricing, which has resulted in an increase in imported steel from regions which are not subject to similar environmental targets.[4] For steel traders, there is a proliferating requirement to disclose emissions data, as obliged to by accounting principles via International Financial Reporting Standards (IFRS) and the IRRS S2[5], and public sector procurement initiatives.[6] Simultaneously, there is a burgeoning awareness of the proximity of the introduction of the UK’s carbon border adjustment mechanism (CBAM) in 2027, echoing the European Union’s (EU) model, which will place a carbon tax on steel imports to protect domestic industry, whilst recognising equivalent carbon pricing schemes to circumvent double taxation. Environmental Product Declarations (EPD) independently verified by a third party are acknowledged by the market as the appropriate method to disclose global warming potential (GWP) data. A standard EPD will be issued for five years, although the UK Certification Scheme for the Reinforcement of Steel (CARES) have released a version which can be updated every three years. This places an obligation on steel importers to inform their existing non-EU procurement partners and analyse the risk to supply chain.

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The opportunity is presented through adaptation of processing activities within steel manufacturing, McKinsey identify that nearly emissions-free steel can be produced through a combination of “green hydrogen-based DRI and scrap in combination with electric arc furnaces.”[7] However, convincing traditional financing partners to fund this activity, in an industry which is not currently profitable for shareholders of UK companies within the manufacturing sector [8] [9] [10] [11] presents an additional layer of complexity. The UK government have aspired to address this through The Companies (Strategic Report) (Climate Financial Disclosures) Regulation 2022, the Department for Business, Energy and Industrial Strategy state that “Disclosures of material climate-related financial information can help support investment decisions as we move towards a low-carbon economy.”[12] Simultaneously, corporate disclosures are enabled further by the adoption of the reporting methodology of the Global Reporting Initiative (GRI) standards, which allow organisations to publicly report on the impacts of their activities.[13]

Prescription, Adjudication and Enforcement of Transnational Private Regulations

The traditional perspective of legal positivism, which stemmed from the Westphalian model, and the political philosophies of Hobbes and Hume, emphasised a “top-down” approach. Hart presented a critique of the conception of law as “the sovereign’s coercive orders”[14] and proposed that the actualities of a contemporary legal system were based upon a primary rule of conduct, where persons were required “to do or abstain from certain actions”[15], and a secondary rule of recognition, which may confer “powers, public or private”[16] and specified “the criteria of legal validity and its rules of change and adjudication.”[17] Schultz has extended Hart’s perspective to propose “where normative systems can be found that are so autonomous and formally organized, and that display the essential features of a legal system to such a high degree, that they deserve to acquire the status of archetypes of non-state law.”[18] Placing the analysis of the UK steel industry within a theoretical framework concerning self-governance, several adjacent transnational private instruments are contemplated; the CARES certification scheme, the EPD, and GRI standards for reporting.

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Formulation

At prescriptive level, the UK market has a soft law obligation for economic actors in the constructional steel industry to hold CARES certification to validate access to market. The British Stainless Steel Association (BSSA) state that “[CARES] certification is not called up by construction regulations and can be therefore regarded as voluntary in the UK”[19] In addition to provision of quality assurance across 50 countries, CARES have also made available an EPD programme. Kingspan have identified that the construction industry is “increasingly self-regulating as manufacturers seek to demonstrate carbon transparency and market their products accordingly.”[20] The first EPD was issued in Sweden in 1992, and since then usage has been prevalent throughout Europe, China, the United States, Japan and Australia. [21] Within the boardroom, the GRI standards are reported by Fitzgerald to be used by 78% of the world's largest 250 corporations, to provide “A flexible framework for creating standalone sustainability or non-financial reports, or integrated ESG reports.”[22] Thereby, industry actors have the capability to undertake benchmark analysis. [23] [24] [25]?

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Adjudication

As a certifying body, CARES display endorsement by UK Accreditation Service (UKAS), appointed by government to regulate organisations that provide certification services.[26] Applicants must apply to CARES for certification, across areas including the construction products regulations (CPR) and technical approvals to the International Standards Organisation (ISO) criteria which may occur through sample and analysis of test data within independent laboratory analysis, or through implementation of a quality management system. CARES also present a ‘Complaints and Appeals’ procedure, whereby customers of certified firms may report on performance, and where companies may appeal against CARES’ decisions and articulate “The Panel appointed […] shall consist of a chairman and two members, none of whom shall have any commercial interest in the subject of the appeal.”[27] CARES play a cardinal role in enforcing standards, for example, on 11 April 2024 CARES issued a letter addressing that “Inclusion of Climate Change considerations within Management Systems Standards - ISO 9001, ISO 14001 & ISO 45001” placed a requirement for analysis concerning climate change to be considered within all applicants’ management systems.[28] In relation to the EPD, BRE Global state that “An LCA [life cycle analysis] is performed using a peer-reviewed Product Category Rules document (PCR) in line with EN 15804 (the European Standard for the generation of EPD for construction products), ISO 14025, and other related international standards.”[29] The national accreditation programme for EPD is managed by BRE Global in the UK, although a variety of independent third-party auditors which are approved by UKAS may validate usage, including CARES.[30] Use of the BRE Green Book Live[31] platform is not mandatory, Tata Steel state that “PricewaterhouseCoopers, Paris” are responsible for their independent third-party verification[32], whereas Celsa Group use The International EPD ? System, the accreditation programme for the European Union.[33] The process of adjudication when applied to the GRI reporting systems is at board governance level. Herein, the corporate structure has adopted self-regulatory mechanisms which direct the company, and analogous to that of the mythological Ouroboros, the organisation must draw from their past to model a vision of the future. ArcelorMittal’s 2022 report contains an index to locate data across each of the GRI 2 disclosures across multiple stakeholder publications.[34]

Enforcement

Subsequent to payment of fees, CARES will adopt a process of enforcement through monitoring either product or management through annual or bi-annual surveillance audits, and quarterly reporting systems.[35] The market enforces the certification through visibility on the CARES website, enabling companies to trade with accredited organisations. Organisations that do not maintain their certification are published, and thereby sanctioned.[36] The Construction Products Association (CPA) have voiced that EN 15084 requires a table which includes independent verification of the declaration and data, and confirmation of the name of the third party verifier to be published so that an EPD can be “quickly identified as verified”.[37] The CPA state that “An unverified EPD does not comply with EN 15804 and has not been checked to ensure the standards have been followed or that the data is plausible. They should not be considered as reliable information.” An example of market enforcement is the Institute for Civil Engineers’ PAS 2080 standards which recommend use of an EPD to collect operational data to report on GHG emissions.[38] Steel is a transnational sector, and monitoring of the information disclosed using GRI standards in the annual report will be enforced by the chair of the Board of Directors, trade unions, government stakeholders,[39] financial stakeholders such as the Climate Bonds Standards and Certification Scheme[40], institutional investors,[41] and the regulatory authorities of any stock exchange that the company may be listed on. GRI 2 indexes feature within annual reporting, and therefore frame the interaction between legislature and stakeholder response in areas including decommissioning plant and machinery in advance of the end of its useful lifespan, as occurred with the announcement of the closure of Tata Steel’s blast furnaces, with the projected result of reducing “CO2 emissions by 5 million mt/year and overall UK country emissions by about 1.5%.”[42]

The author acknowledges that the exercise of secondary rules concerning the application of sanctions to use of GRI and EPD may be questionable, however these instruments’ effectiveness in achieving causal influence must be acknowledged. Gallaird refers to Ost and Kerchove, reflecting in reference to both the lex mercatoria, and the inability of international public policy to apply adequate sanctions, that according to “these legal theorists, the validity of a norm, defined as its aptitude to produce legal effects, rests on the three criteria of formal, empirical and axiological validity”, whereby “the three corresponding poles of legality, effectiveness and legitimacy necessarily interact, either by reinforcing or by countering one another.” [43]

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Analysis of the interaction of private regulation with climate change law

What may seem surprising is the inadequacy of state law to comprehend the minutiae of regulatory oversight required to implement decarbonisation objectives. Kerchove and Ost reflect on the autopoietic nature of law, “simultaneously closed and open: closed in the sense that since laws can be created and can possess meaning only by virtue of the existence of others.”[44] This is illustrated through consideration of how use of the market-regulated EPD will facilitate the CBAM policy, and how, at this stage, less than three years prior to introduction, steel importers are relying on this type of disclosure to conduct cost analysis. Ubacht and others observe that “Through these digital infrastructures, governments can tap into data such as Environmental Product Declaration data”[45] suggesting that “Business-to-government information-sharing arrangements play an essential role in monitoring compliance with these regulatory measures.”[46]

The ability of industry actors to be able to choose from an international marketplace of third-party auditors demonstrates the flexibility of using market regulation as a transnational instrument. In circumstances related to state-made regulation, equivalence can present cross-border friction; for example, when negotiating the exit from the European Union, the United Kingdom did not agree to EU Commission Vice-President Maro? ?ef?ovi?’s offer of an equivalence agreement on veterinary safety standards.[47] Allianz Trade have reported that as a consequence, the cost will be ￡2bn to British importers, and inflation will potentially be pushed up by +0.15pp.[48] From an economic basis, the benefits of self-governance are apparent, whereby the private sector plays a hypothecating role in regulation of its own activities. Simultaneously, public relations and stakeholder perception of autonomy are prioritised within a neo-liberal, capitalist economy that places faith in markets. It could also be argued that perhaps state law does not go far enough in facilitating outcomes, and reporting on sustainable practices becomes rhetoric. Consider for instance, the latest annual accounts submitted to Companies House by Balfour Beatty PLC, which place emphasis on a pathway to net zero, and sustainable practices, whilst simultaneously reporting on an increase in scope 1 and 2 emissions.[49] Adjacent to this, the weaknesses of the self-governance model may include the lack of penalties for non-compliance and tort.

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Conclusion

Addressing private governance regimes, Scott, Cafaggi and Senden proposes they may be considered as “transnational, rather than international, in the sense that their effects cross borders, but are not constituted through the cooperation of states as reflected in treaties.”[50] This essay has endeavoured to present critical issues concerning the decarbonisation of the UK’s steel sector. The layers of transnational regulation have been analysed, from the quality assurance at operational level by CARES, to use of an EPD as a pivotal tool that the government will rely on when implementing the CBAM from 2027, to the GRI standards which complement the regimes that the state has given statutory recognition to, and in accordance “private law devices have been transformed to perform regulatory functions at the global level.”[51] It is proposed that non-constitutional regulation within the steel sector is integral to the formulation of procedures and accountability and has achieved sufficient legitimacy to effectively serve collective interests.

Footnotes

[1] BEIS, United Kingdom of Great Britain and Northern Ireland’s Nationally Determined Contribution: Updated: September 2022 (The Stationary Office 2022) 5

[2] Knight L and Walker A, Green Steel, vol 672 (UK Parliament 2022)

[3] to allow continuity to businesses as permitted by The Greenhouse Gas Emissions Trading Scheme (Amendment) Order 2020

[4] HMRC, ‘Trade Data - UK Trade Info’ (Trade data - UK Trade Info) <https://www.uktradeinfo.com/trade-data/ > accessed 14 April 2024

[5] IFRS, ‘Home’ (IFRS, 2023) <https://www.ifrs.org/projects/completed-projects/2023/climate-related-disclosures/ > accessed 13 April 2024

[6] ‘Procurement Policy Note 06/21’ (GOV.UK , 17 April 2023) <https://www.gov.uk/government/publications/procurement-policy-note-0621-taking-account-of-carbon-reduction-plans-in-the-procurement-of-major-government-contracts > accessed 16 April 2024

[7] McKinsey & Co, Decarbonisation Challenges for the Steel Sector (2020) 5

[8] Tata Steel, ‘Tata Steel UK Limited - Reports and Accounts 2023’ Companies House 18

[9] Celsa Steel, ‘Celsa Steel (UK) Ltd - Reports and Accounts 2023’ Companies House 10

[10] Companies House, ‘ARCELORMITTAL Limited Filing History - Find and Update Company Information’ (GOV.UK ) <https://find-and-update.company-information.service.gov.uk/company/03335595/filing-history > accessed 14 April 2024

[11] Companies House, ‘Liberty Steel Limited Filing History - Find and Update Company Information’ (GOV.UK , 31 March 2020) <https://find-and-update.company-information.service.gov.uk/company/10068873/filing-history > accessed 7 April 2024

[12] BEIS, Mandatory Climate-Related Financial Disclosures by Publicly Quoted Companies, Large Private Companies and LLPs (Department for Business, Energy and Industrial Strategy 2022) 5

[13] GRI, ‘Continuous Improvement’ (GRI - Standards) <https://www.globalreporting.org/standards/ > accessed 17 April 2024

[14] Hart H, The Concept of Law (2nd edn, Oxford University Press 2012) 80

[15] Ibid 81

[16] Ibid

[17] Ibid 116

[18] Schultz T, ‘The Concept of Law in Transnational Arbitral Legal Orders and Some of Its Consequences’ (2011) 2 Journal of International Dispute Settlement 59

[19] BSSA, ‘The Cares Guide to Reinforcing Steels’ (The Product Certification Scheme for Steel for Reinforcement of Concrete) <https://bssa.org.uk/wp-content/uploads/2022/08/CARES-PART-1.pdf > accessed 13 April 2024

[20] Kingspan, ‘10 Facts You Need to Know about Environmental Product Declarations (Epds)’ (Kingspan) <https://www.kingspan.com/gb/en/knowledge-articles/10-facts-you-need-to-know-about-environmental-product-declarations/ > accessed

[21] Ibid

[22] Fitzgerald L, ‘ESG Reporting Frameworks and Standards – Understanding the Difference’ (EcoOnline, 9 January 2024) <https://www.ecoonline.com/blog/esg-reporting-frameworks-and-standards-understanding-the-difference > accessed 15 April 2024

[23] ArcelorMittal (Reporting Index 2022) <https://annualreview2022.arcelormittal.com/media/zwmgycqv/arcelor-mittal-reporting-index-2022.pdf > accessed 7 April 2024

[24] Celsa, ‘Sustainability Report Celsa Group’ (Celsa Group, 18 December 2023) <https://www.celsagroup.com/en/sustainability-report-celsa-group/ > accessed 7 April 2024

[25] Tata Steel, ‘Sustainability Report 2022/2023’ (Sustainability Report 2022-2023, 2023) <https://www.tatasteeleurope.com/sites/default/files/Tata Steel sustainability report 202223.pdf> accessed 7 April 2024

[26] UKAS, ‘The UK Accreditation Body - Creating Confidence’ (UKAS, 20 March 2024) <https://www.ukas.com/ > accessed 24 March 2024

[27] CARES, CARES Construction Products and Associated Services Scheme (CARES 2020) 2

[28] Letter from Ayhan Tugrul, Chief Operating Officer to All CARES Approved/Applicant Firms Ref: CC13069AT (9th April 2024)

[29] BRE, ‘Environmental Product Declaration (EPD) EN 15804’ (BRE Group - Building a better world together, 21 February 2024) <https://bregroup.com/services/testing-certification-verification/en-15804-environmental-product-declarations/ > accessed 11 April 2024

[30] CARES, ‘Environmental Product Declarations’ (Environmental Product Declarations - Cares Steel Certification) <https://www.carescertification.com/certification-schemes/environmental-product-declarations > accessed 11 April 2024

[31]Green Book Live, ‘EPD Verification Scheme’ (Greenbook Live: EPD verification scheme) <https://www.greenbooklive.com/search/scheme.jsp?id=260 > accessed 11 April 2024

[32] Tata Steel, Colorcoat? Pre-Finished Steel Coil Environmental Product Declaration (2022) 2

[33] Celsa, S-P-07498. HOT ROLLED WIRE ROD AND REINFORCING STEEL PRODUCTS (100% RENEWABLE ELECTRICITY) <https://api.environdec.com/api/v1/EPDLibrary/Files/85abf875-40c1-4d1e-e1a0-08dad11ff8e7/Data > accessed 13 April 2024

[34] (at 22) 6 - 7

[35] CARES, ‘Maintenance Process’ (Cares Steel Certification) <https://www.carescertification.com/certification-schemes/maintenance-process > accessed 13 April 2024

[36]CARES, ‘New and Withdrawn Certificates’ (Cares Steel Certification) <https://www.carescertification.com/certified-companies/new-and-withdrawn > accessed 15 April 2024

[37] Anderson J, Types of Environmental Product Declaration (EPD) (Construction Products Association) <https://www.constructionproducts.org.uk/our-expertise/sustainability/sustainability-measurement-and-reporting/types-of-environmental-product-declaration-and-their-advantages-and-disadvantages/ > accessed 13 April 2024

[38] Howells K (Guidance Document for PAS 2080)? <https://www.ice.org.uk/media/vm0nwehp/2023-03-29-pas_2080_guidance_document_april_2023.pdf > accessed 13 April 2024

[39] ‘Tata Steel / Port Talbot Steelworks Q&A’ (GOV.UK ) <https://www.gov.uk/government/news/tata-steel-port-talbot-steelworks-qa > accessed 14 April 2024

[40] Climate Bonds Initiative, ‘Steel’ (Climate Bonds Initiative, 5 March 2024) <https://www.climatebonds.net/standard/steel > accessed 14 April 2024

[41] (at 7) 2

[42] Varriale L, ‘Tata Steel UK to Close Both Blast Furnaces This Year, New EAF to Start Production 2027’ (S&P Global Commodity Insights, 19 January 2024) <https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/metals/011924-tata-steel-uk-to-close-both-blast-furnaces-this-year-new-eaf-to-start-production-2027 > accessed 14 April 2024

[43] F. Ost and M. van de Kerchove, De la pyramide au re?seau? Pour une the?orie dialectique du droit, op. cit. footnote 17, 309 cited in Gaillard, Emmanuel.?Legal Theory of International Arbitration, BRILL, 2010.?ProQuest Ebook Central, 8 https://ebookcentral.proquest.com/lib/kcl/detail.action?docID=682287

[44] Kerchove M van and Ost F, The Legal System between Order and Disorder (Oxford University Press 1994) 153 cited in Duxbury N (1990) 53 Reviewed Work: Le système juridique entre ordre et désordre by Michel van de Kerchove, Fran?ois Ost 839

[45] Ubacht J and others, Data Sharing Arrangements for Monitoring in the EU Circular Economy: The Case of CBAM and Steel Import for the EU Automotive Sector (2020) 6 <https://ceur-ws.org/Vol-3449/paper17.pdf > accessed 13 April 2024

[46] Ibid

[47] House of Lords, ‘House of Lords - Beyond Brexit: Trade in Goods - European Union Committee’ § 122 (Beyond Brexit: trade in goods, 2021) <https://publications.parliament.uk/pa/ld5801/ldselect/ldeucom/249/24908.htm > accessed 11 April 2024

[48] Subran L and others (What to watch: The ECB in a pickle, China v. Germany – from complementarity to substitution, and UK trade tricks to reduce Brexit inflation, 11 April 2024) <https://www.allianz.com/content/dam/onemarketing/azcom/Allianz_com/economic-research/publications/specials/en/2024/april/2024_04_11_what_to_watch.pdf > accessed 13 ?April 2024

[49] Balfour Beatty PLC, Annual Report and Accounts 2022 (2022) 7

[50] Scott C, Cafaggi F, and Senden L (2011) The Conceptual and Constitutional Challenge of Transnational Private Regulation, JLS, 38: 3.?https://doi.org/10.1111/j.1467-6478.2011.00532.x

[51]Ibid

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Celsa, ‘UK Mandatory Climate Disclosures For ...’ (Celsa UK-Mandatory-Climate-Disclosure-June-2023) <https://www.celsauk.com/wp-content/uploads/2023/07/Celsa-UK-Mandatory-Climate-Disclosure-June-2023.pdf > accessed 6 April 2024

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Knight L and Walker A, Green Steel, vol 672 (UK Parliament 2022)

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Schultz T, ‘The Concept of Law in Transnational Arbitral Legal Orders and Some of Its Consequences’ (2011) 2 Journal of International Dispute Settlement 59

Scott, C., Cafaggi, F. and Senden, L. (2011), The Conceptual and Constitutional Challenge of Transnational Private Regulation. Journal of Law and Society, 38: 1-19.?https://doi.org/10.1111/j.1467-6478.2011.00532.x

Subran L and others (What to watch: The ECB in a pickle, China v. Germany – from complementarity to substitution, and UK trade tricks to reduce Brexit inflation, 11 April 2024) <https://www.allianz.com/content/dam/onemarketing/azcom/Allianz_com/economic-research/publications/specials/en/2024/april/2024_04_11_what_to_watch.pdf >

Tata Steel, Colorcoat? Pre-Finished Steel Coil Environmental Product Declaration (2022)

‘Tata Steel / Port Talbot Steelworks Q&A’ (GOV.UK ) <https://www.gov.uk/government/news/tata-steel-port-talbot-steelworks-qa > accessed 14 April 2024

Tata Steel, ‘Sustainability Report 2022/2023’ (Sustainability Report 2022-2023) <https://www.tatasteeleurope.com/sites/default/files/Tata Steel sustainability report 202223.pdf> accessed 7 April 2024

Tata Steel, ‘Tata Steel UK Limited - Reports and Accounts 2023’ Companies House

Todorovi? I, ‘Green Steel Plant in Finland Set to Start Production in 2026’ (Balkan Green Energy News, 6 January 2023) <https://balkangreenenergynews.com/green-steel-plant-in-finland-set-to-start-production-in-2026/ > accessed 18 March 2024

Ubacht J and others, Data Sharing Arrangements for Monitoring in the EU Circular Economy: The Case of CBAM and Steel Import for the EU Automotive Sector (2020) 1 <https://ceur-ws.org/Vol-3449/paper17.pdf > accessed 13 April 2024

UKAS, ‘The UK Accreditation Body - Creating Confidence’ (UKAS, 20 March 2024) <https://www.ukas.com/ > accessed 16 April 2024

UKGBC, ‘Net Zero Carbon Buildings Framework’ (UKGBC, 5 January 2024) <https://ukgbc.org/resources/net-zero-carbon-buildings-framework/ > accessed 11 April 2024

Varriale L, ‘Tata Steel UK to Close Both Blast Furnaces This Year, New EAF to Start Production 2027’ (S&P Global Commodity Insights, 19 January 2024) <https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/metals/011924-tata-steel-uk-to-close-both-blast-furnaces-this-year-new-eaf-to-start-production-2027 > accessed 14 April 2024

Verbruggen P and Paiement P, ‘Transnational Private Regulation’ [2017] Oxford Bibliographies Online Datasets

WSA, ‘Climate Change Policy Paper’ (worldsteel.org , 23 September 2022) <https://worldsteel.org/publications/policy-papers/climate-change-policy-paper/ > accessed 7 April 2024

Primary research

Letter from Ayhan Tugrul, Chief Operating Officer to All CARES Approved/Applicant Firms Ref: CC13069AT (9th April 2024)

Legislation

?

The Companies (Strategic Report) (Climate Financial Disclosures) Regulation 2022

?

The Greenhouse Gas Emissions Trading Scheme Order 2020

?

The Greenhouse Gas Emissions Trading Scheme (Amendment) Order 2020

?

The Climate Change Act 2008

?

Treaties

?

Paris Agreement to the United Nations Framework Convention on Climate Change, Dec. 12, 2015, T.I.A.S. No. 16-1104.

?

?Kyoto Protocol to the United Nations Framework Convention on Climate Change, Dec. 10, 1997, 2303 U.N.T.S. 162.

?

?Additional resources

Backer L, ‘A Lex Mercatoria for Corporate Social Responsibility Codes without the State? A Critique of Legalization within the State under the Premises of Globalization’ (2017) 24 Indiana Journal of Global Legal Studies 115

CARES, BREG EN EPD No. 000139 <https://www.carescertification.com/files/approvals/2270/sustainability/BREG%20EN%20EPD%20No.%20000139.pdf > accessed 13 April 2024

CARES, ?Sustainable Constructional Steel V10 Consultation” (Sustainable Constructional Steel v10 Consultation - Cares Steel Certification) <https://www.carescertification.com/certification-schemes/sustainable-constructional-steel-v10-consultation > accessed 14 April 2024

Celsa, ‘UK Mandatory Climate Disclosures For ...’ (Celsa UK-Mandatory-Climate-Disclosure-June-2023) <https://www.celsauk.com/wp-content/uploads/2023/07/Celsa-UK-Mandatory-Climate-Disclosure-June-2023.pdf > accessed 6 April 2024?

Cullen JM, Allwood JM and Bambach MD, ‘Mapping the Global Flow of Steel: From Steelmaking to End-Use Goods’ (2012) 46 Environmental Science & Technology 13048

ERM Sustainability Initiative, ‘Double-Edged: 5 Steps to Comply with CBAM and Add Strategic Value’ (ERM) <https://www.sustainability.com/thinking/double-edged-5-steps-to-comply-with-cbam-and-add-strategic-value/ > accessed 11 April 2024

Gaillard E, Legal Theory of International Arbitration (Brill 2012)

Hoffmann C, Hoey MV and Zeumer B, ‘Decarbonization Challenge for Steel’ (McKinsey & Company, 3 June 2020) <https://www.mckinsey.com/industries/metals-and-mining/our-insights/decarbonization-challenge-for-steel > accessed 6 February 2024

House of Lords, ‘House of Lords - Beyond Brexit: Trade in Goods - European Union Committee’ (Beyond Brexit: trade in goods, 2021) <https://publications.parliament.uk/pa/ld5801/ldselect/ldeucom/249/24908.htm > accessed 11 April 2024

ICE ‘ICE Futures Europe’ (Futures Trading Exchange for Crude Oil, Energy, Interest Rates, & Softs | ICE Futures Europe) <https://www.ice.com/futures-europe > accessed 13 April 2024

Make UK, ‘UK Steel News 22 June 2023’ (Make UK, June 2023) <https://www.makeuk.org/news-and-events/news/government-must-act-23-million-tonnes-of-high-emission-steel-could-devastate-the-uk > accessed 7 April 2024

Mayer Brown, ‘Consultation on UK Carbon Border Adjustment Mechanism (“CBAM”): Insights: Mayer Brown’ (Insights | Mayer Brown, 10 April 2024) <https://www.mayerbrown.com/en/insights/publications/2024/04/consultation-on-uk-carbon-border-adjustment-mechanism-cbam > accessed 10 April 2024

Todorovi? I, ‘Green Steel Plant in Finland Set to Start Production in 2026’ (Balkan Green Energy News, 6 January 2023) <https://balkangreenenergynews.com/green-steel-plant-in-finland-set-to-start-production-in-2026/ > accessed 18 March 2024

UKGBC, ‘Net Zero Carbon Buildings Framework’ (UKGBC, 5 January 2024) <https://ukgbc.org/resources/net-zero-carbon-buildings-framework/ > accessed 11 April 2024

Verbruggen P and Paiement P, ‘Transnational Private Regulation’ [2017] Oxford Bibliographies Online Datasets

WSA, ‘Climate Change Policy Paper’ (worldsteel.org , 23 September 2022) <https://worldsteel.org/publications/policy-papers/climate-change-policy-paper/ > accessed 7 April 2024

?

[1] BEIS, United Kingdom of Great Britain and Northern Ireland’s Nationally Determined Contribution: Updated: September 2022 (The Stationary Office 2022) 5

[2] Knight L and Walker A, Green Steel, vol 672 (UK Parliament 2022)

[3] to allow continuity to businesses as permitted by The Greenhouse Gas Emissions Trading Scheme (Amendment) Order 2020

[4] HMRC, ‘Trade Data - UK Trade Info’ (Trade data - UK Trade Info) <https://www.uktradeinfo.com/trade-data/ > accessed 14 April 2024

[5] IFRS, ‘Home’ (IFRS, 2023) <https://www.ifrs.org/projects/completed-projects/2023/climate-related-disclosures/ > accessed 13 April 2024

[6] ‘Procurement Policy Note 06/21’ (GOV.UK , 17 April 2023) <https://www.gov.uk/government/publications/procurement-policy-note-0621-taking-account-of-carbon-reduction-plans-in-the-procurement-of-major-government-contracts > accessed 16 April 2024

?

[7] McKinsey & Co, Decarbonisation Challenges for the Steel Sector (2020) 5

[8] Tata Steel, ‘Tata Steel UK Limited - Reports and Accounts 2023’ Companies House 18

[9] Celsa Steel, ‘Celsa Steel (UK) Ltd - Reports and Accounts 2023’ Companies House 10

[10] Companies House, ‘ARCELORMITTAL Limited Filing History - Find and Update Company Information’ (GOV.UK ) <https://find-and-update.company-information.service.gov.uk/company/03335595/filing-history > accessed 14 April 2024

[11] Companies House, ‘Liberty Steel Limited Filing History - Find and Update Company Information’ (GOV.UK , 31 March 2020) <https://find-and-update.company-information.service.gov.uk/company/10068873/filing-history > accessed 7 April 2024

[12] BEIS, Mandatory Climate-Related Financial Disclosures by Publicly Quoted Companies, Large Private Companies and LLPs (Department for Business, Energy and Industrial Strategy 2022) 5

[13] GRI, ‘Continuous Improvement’ (GRI - Standards) <https://www.globalreporting.org/standards/ > accessed 17 April 2024

?

[14] Hart H, The Concept of Law (2nd edn, Oxford University Press 2012) 80

[15] Ibid 81

[16] Ibid

[17] Ibid 116

[18] Schultz T, ‘The Concept of Law in Transnational Arbitral Legal Orders and Some of Its Consequences’ (2011) 2 Journal of International Dispute Settlement 59

[19] BSSA, ‘The Cares Guide to Reinforcing Steels’ (The Product Certification Scheme for Steel for Reinforcement of Concrete) <https://bssa.org.uk/wp-content/uploads/2022/08/CARES-PART-1.pdf > accessed 13 April 2024

[20] Kingspan, ‘10 Facts You Need to Know about Environmental Product Declarations (Epds)’ (Kingspan) <https://www.kingspan.com/gb/en/knowledge-articles/10-facts-you-need-to-know-about-environmental-product-declarations/ > accessed

[21] Ibid

[22] Fitzgerald L, ‘ESG Reporting Frameworks and Standards – Understanding the Difference’ (EcoOnline, 9 January 2024) <https://www.ecoonline.com/blog/esg-reporting-frameworks-and-standards-understanding-the-difference > accessed 15 April 2024

[23] ArcelorMittal (Reporting Index 2022) <https://annualreview2022.arcelormittal.com/media/zwmgycqv/arcelor-mittal-reporting-index-2022.pdf > accessed 7 April 2024

[24] Celsa, ‘Sustainability Report Celsa Group’ (Celsa Group, 18 December 2023) <https://www.celsagroup.com/en/sustainability-report-celsa-group/ > accessed 7 April 2024

[25] Tata Steel, ‘Sustainability Report 2022/2023’ (Sustainability Report 2022-2023, 2023) <https://www.tatasteeleurope.com/sites/default/files/Tata Steel sustainability report 202223.pdf> accessed 7 April 2024

[26] UKAS, ‘The UK Accreditation Body - Creating Confidence’ (UKAS, 20 March 2024) <https://www.ukas.com/ > accessed 24 March 2024

[27] CARES, CARES Construction Products and Associated Services Scheme (CARES 2020) 2

[28] Letter from Ayhan Tugrul, Chief Operating Officer to All CARES Approved/Applicant Firms Ref: CC13069AT (9th April 2024)

[29] BRE, ‘Environmental Product Declaration (EPD) EN 15804’ (BRE Group - Building a better world together, 21 February 2024) <https://bregroup.com/services/testing-certification-verification/en-15804-environmental-product-declarations/ > accessed 11 April 2024

[30] CARES, ‘Environmental Product Declarations’ (Environmental Product Declarations - Cares Steel Certification) <https://www.carescertification.com/certification-schemes/environmental-product-declarations > accessed 11 April 2024

[31]Green Book Live, ‘EPD Verification Scheme’ (Greenbook Live: EPD verification scheme) <https://www.greenbooklive.com/search/scheme.jsp?id=260 > accessed 11 April 2024

[32] Tata Steel, Colorcoat? Pre-Finished Steel Coil Environmental Product Declaration (2022) 2

[33] Celsa, S-P-07498. HOT ROLLED WIRE ROD AND REINFORCING STEEL PRODUCTS (100% RENEWABLE ELECTRICITY) <https://api.environdec.com/api/v1/EPDLibrary/Files/85abf875-40c1-4d1e-e1a0-08dad11ff8e7/Data > accessed 13 April 2024

[34] (at 22) 6 - 7

[35] CARES, ‘Maintenance Process’ (Cares Steel Certification) <https://www.carescertification.com/certification-schemes/maintenance-process > accessed 13 April 2024

[36] CARES, ‘New and Withdrawn Certificates’ (Cares Steel Certification) <https://www.carescertification.com/certified-companies/new-and-withdrawn > accessed 15 April 2024

[37] Anderson J, Types of Environmental Product Declaration (EPD) (Construction Products Association) <https://www.constructionproducts.org.uk/our-expertise/sustainability/sustainability-measurement-and-reporting/types-of-environmental-product-declaration-and-their-advantages-and-disadvantages/ > accessed 13 April 2024

[38] Howells K (Guidance Document for PAS 2080)? <https://www.ice.org.uk/media/vm0nwehp/2023-03-29-pas_2080_guidance_document_april_2023.pdf > accessed 13 April 2024

[39] ‘Tata Steel / Port Talbot Steelworks Q&A’ (GOV.UK ) <https://www.gov.uk/government/news/tata-steel-port-talbot-steelworks-qa > accessed 14 April 2024

[40] Climate Bonds Initiative, ‘Steel’ (Climate Bonds Initiative, 5 March 2024) <https://www.climatebonds.net/standard/steel > accessed 14 April 2024

[41] (at 7) 2

[42] Varriale L, ‘Tata Steel UK to Close Both Blast Furnaces This Year, New EAF to Start Production 2027’ (S&P Global Commodity Insights, 19 January 2024) <https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/metals/011924-tata-steel-uk-to-close-both-blast-furnaces-this-year-new-eaf-to-start-production-2027 > accessed 14 April 2024

[43] F. Ost and M. van de Kerchove, De la pyramide au re?seau? Pour une the?orie dialectique du droit, op. cit. footnote 17, 309 cited in Gaillard, Emmanuel.?Legal Theory of International Arbitration, BRILL, 2010.?ProQuest Ebook Central, 8 https://ebookcentral.proquest.com/lib/kcl/detail.action?docID=682287

[44] Kerchove M van and Ost F, The Legal System between Order and Disorder (Oxford University Press 1994) 153 cited in Duxbury N (1990) 53 Reviewed Work: Le système juridique entre ordre et désordre by Michel van de Kerchove, Fran?ois Ost 839

[45] Ubacht J and others, Data Sharing Arrangements for Monitoring in the EU Circular Economy: The Case of CBAM and Steel Import for the EU Automotive Sector (2020) 6 <https://ceur-ws.org/Vol-3449/paper17.pdf > accessed 13 April 2024

[46] Ibid

[47] House of Lords, ‘House of Lords - Beyond Brexit: Trade in Goods - European Union Committee’ § 122 (Beyond Brexit: trade in goods, 2021) <https://publications.parliament.uk/pa/ld5801/ldselect/ldeucom/249/24908.htm > accessed 11 April 2024

[48] Subran L and others (What to watch: The ECB in a pickle, China v. Germany – from complementarity to substitution, and UK trade tricks to reduce Brexit inflation, 11 April 2024) <https://www.allianz.com/content/dam/onemarketing/azcom/Allianz_com/economic-research/publications/specials/en/2024/april/2024_04_11_what_to_watch.pdf > accessed 13 ?April 2024

[49] Balfour Beatty PLC, Annual Report and Accounts 2022 (2022) 7

[50] Scott C, Cafaggi F, and Senden L (2011) The Conceptual and Constitutional Challenge of Transnational Private Regulation, JLS, 38: 3.?https://doi.org/10.1111/j.1467-6478.2011.00532.x

[51] Ibid