The debut event, hosted by the China Iron and Steel Association and organized by China Baowu Steel Group both online and offline, is timely and necessary, said Xia Nong, an official from the National Development and Reform Commission.

"By specifying the quantitative disclosure of iron and steel products' environmental impact including carbon footprint, the steel industry EPD program takes its social responsibility and is an action responding to the nation's carbon peaking and carbon neutrality goals," Xia said.

"The establishment of the EPD program in the steel sector will promote technological process, efficiency enhancement and technological innovation, encourage green steel product designs and speed up the industry's green and low-carbon transformation," said Chen Derong, chairman of China Baowu Group.