ArcelorMittal Ranked as Top Steel Company for Carbon Innovations

Noria news wires

ArcelorMittal recently announced that it has been ranked first worldwide in five categories relating to steel companies’ readiness for a low-carbon transition.

In the new Carbon Disclosure Project (CDP) report, which rated 20 of the world’s largest publicly listed steel companies, ArcelorMittal ranked first in low-carbon innovations, transition opportunities, data transparency, renewable energy use, and board and executive climate management. The steel and mining company, which ranked fifth in the CDP’s 2016 report, was rated second overall in the latest report.

The new report is based on detailed analysis across a range of carbon and transitional indicators that could have a significant impact on company performance. The table is designed to serve as a proxy for business readiness in an industry that will face increasing challenges as governments increase efforts to implement the Paris Agreement.

“With the demand for steel ever increasing, we know we have a role to play and a clear responsibility to significantly reduce the carbon footprint of steel,” said Alan Knight, corporate responsibility general manager at ArcelorMittal. “We’re very pleased that the CDP league tables have recognized our efforts, with our ranking going up from fifth to second place. We know that there is more work to be done to achieve our ambition of being carbon neutral in Europe by 2050 and to significantly reduce our carbon emissions worldwide.”

ArcelorMittal recently published its first climate action report in which it announced its ambition to reduce carbon-dioxide emissions globally and be carbon neutral in Europe by 2050. To achieve this goal, the company is building a strategic roadmap linked to the evolution of public policy and developments in low-emissions steelmaking technologies. A target to 2030 will be launched in 2020, replacing the company’s current target of an 8 percent carbon footprint reduction by 2020.

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