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Unless it acts fast, ArcelorMittal will lose the race to sustainable steel
With the Paris Olympics opening ceremony and the display of the low carbon Olympic torch, it’s time to evaluate. In the race to sustainable steel, how is ArcelorMittal performing?
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SteelWatch Statement on Nippon Steel Climate Resolutions
Nippon Steel, faced three resolutions from investors to reform its climate change policies at its 2024 annual general meeting, with the company’s targets falling far short of 1.5C alignment.
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Too Little, Too Late - Nippon Steel Corporate Climate Assessment 2024
World number four steel producer, Nippon Steel, is failing to meet international standards and falling behind its competitors on climate action, due to its focus on coal-based steelmaking.
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We urge speed and scale in emissions reduction, challenging the narrative that incremental progress is enough. We shine a light on the gap between what is needed and what is happening.
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Latest Commentary
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With the Paris Olympics opening ceremony and the display of the low carbon Olympic torch, it's time to evaluate. In the race to sustainable steel, how is ArcelorMittal performing?
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ArcelorMittal claims to be at the ‘forefront of our sector in the net-zero transition’ but looking closer at reality, we see a company stalling and backsliding.
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Four prominent steel companies have announced plans to reline blast furnaces, which are used to produce coal-based steel, that will lock in CO2 emissions of almost 500 Mt. SteelWatch and Solutions forOur Climate (SFOC) shed light on the alarming investments made by steel companies in coal-based steel production, driving millions of additional tonnes of emissions and running counter to their nations’ climate pledges. The commentary underscores the pressing necessity for transitioning to greener alternatives and intensifying climate scrutiny in investment choices to steer clear of coal-based steel production. It also underscores the implications for these companies’ competitiveness and the planet’s stability.
Latest Reports
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With its “Super COURSE50” technology brand, Nippon Steel claims to use hydrogen injection and carbon capture to reduce climate-harming emissions from its steel plants.
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World number four steel producer, Nippon Steel, is failing to meet international standards and falling behind its competitors on climate action, due to its focus on coal-based steelmaking.
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ArcelorMittal does not live up to its own shiny claims of climate leadership because it is not on track to deliver the transformation needed to limit climate change to 1.5C, it is backtracking on its own stated commitments, and prioritising shareholders over decarbonisation in its financial decisions.
