open to all like—minded partners. steet— open to all like—minded partners. steel manufacturing is one of the highest _ steel manufacturing is one of the highest carbon emission sources globally— highest carbon emission sources globally and for steel consumption and trade — globally and for steel consumption and trade to be sustainable, we must address— and trade to be sustainable, we must address the _ and trade to be sustainable, we must address the carbon intensity of the industry _ address the carbon intensity of the industry. we must also address problems— industry. we must also address problems of overcapacity. this is what _ problems of overcapacity. this is what the — problems of overcapacity. this is what the global sustainable steel arrangement is all about. we will work— arrangement is all about. we will work together with the united states to ensure _ work together with the united states to ensure the long—term viability of our industry — to ensure the long—term viability of our industry and to encourage the production— our industry and to encourage the production and trade of low carbon steei~ _ production and trade of low carbon steei~ this— production and trade of low carbon steel. this new global initiative will add — steel. this new global initiative will add in new powerful tool in our quest _ will add in new powerful tool in our quest for— will add in new powerful tool in our quest for sustainability. it will be a major— quest for sustainability. it will be a major step forward in achieving climate _ a major step forward in achieving climate neutrality and it will ensure _ climate neutrality and it will ensure a _ climate neutrality and it will ensure a level plugging field —— a level— ensure a level plugging field —— a level playing field for our industries. it is another key