As part of solidifying a binding agreement, BMW Group and H2 Green Steel have also agreed on technical cooperation which will include several measures that address BMW Group’s Science Based Targets and contribute to meeting its ambitious CO₂ reduction timeline.

H2 Green Steel’s work to reduce emissions will impact BMW Group’s material supply chain and its upstream Scope 3 emissions.

In a pioneering move, both companies have also agreed to have 40 percent of the pre-consumer steel scrap of the volumes returned to H2 Green Steel's electric arc furnaces for re-cycling.

we hope the agreement will inspire others to take similar steps to reduce their climate impact

“We are extremely pleased to have reached this final agreement which will benefit both H2 Green Steel and BMW, and hopefully inspire other actors take similar steps to reduce their climate impact. We are very proud to be partnering with such an important actor in the automotive sector,” says Carl-Erik Lagercrantz, Vice Chairman of H2 Green Steel.