ArcelorMittal recognized for low-carbon innovations
ArcelorMittal recognized for low-carbon innovations.

ArcelorMittal recognized for low-carbon innovations

Steelmaker ranks in five categories relating to steel companies’ readiness for low-carbon transition.

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Luxembourg-based ArcelorMittal ranked first in the Carbon Disclosure Project (CDP) report titled, “Melting Point,” in the categories of low-carbon innovations, transition opportunities, data transparency, renewable energy use and board and executive climate management.

The steelmaker ranked second place overall in CDP’s report, which ranked 20 of the largest and highest-impact publicly listed steel companies worldwide. ArcelorMittal ranked fifth in CDP’s 2016 report.

The new report is based on detailed analysis across a range of carbon and transitional indicators, which could have a significant impact on company performance. The companies are ranked by business readiness in an industry which will face "increasing challenges" as governments increase efforts to implement the Paris climate agreement.

ArcelorMittal says it was recognized for investing in a suite of “transformative technologies,” including Carbon2value. The company was also ranked second for its ambitious goal to be carbon neutral in its Europe operations by 2050.

To achieve the goal, the steelmaker is building a “strategic roadmap” linked to the evolution of public policy and developments in low-carbon emission 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.

“While steel has a lower carbon intensity that many other materials, the large volumes produced globally mean that the industry emits more than three gigatons of CO2 annually,” says Alan Knight, corporate responsibility general manager at ArcelorMittal. “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.”

Knight adds, “We’re very pleased that the CDP has recognized our efforts, with our ranking going up from fifth to second place. We are trialing new technologies in our steel plants, making significant investments in R&D and working with our customers to provide the most sustainable products.”

He continues, “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. Working with stakeholders to create supportive policies to ensure a global level playing field, access to renewable energy at affordable process and access to finance will be critical in achieving greater impact."