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Unmasking a deliberate retreat, ArcelorMittal Corporate Climate Assessment 2026 update
For three consecutive years, SteelWatch has analysed and scrutinised ArcelorMittal through its annual Corporate Climate Assessment, examining its reporting, its leadership statements, its earnings calls, its investor communications, and its interventions in public debates across the global steel sector. We engaged directly with the company, in good faith, on the assumption that it was willing to engage with civil society and respond to the urgency of the climate challenge.
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Expectations are set for steelmaker's near-zero-emissions transition
Until recently, the steel industry was said to be ‘hard to abate,’ and companies were rarely held accountable for their lack of climate actions. What counts as credible steps for deep decarbonisation has not been clear. Not anymore.
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SteelWatch Corporate Scorecard 2026 – The Transition Readiness Gap
Iron and steelmaking remains one of the most emissions-intensive sectors globally, accounting for around a tenth of global carbon emissions. In an industry shaped by long-lived assets and capital-intensive production, decisions taken or delays made by major steel companies will play a critical role in shaping global climate outcomes.
SteelWatch: a vigilant voice for transformation of the steel sector
We challenge the global steel industry to urgently deliver its fair contribution to a livable planet and support civil society to hold the sector accountable.
Campaign for change by specific influential steelmakers
By challenging company behaviour we seek to influence specific corporate decisions.
Challenge complacency and drive action across the steel sector
We expose problems of steelmaking to drive urgency and overturn the narrative that current action is enough.
Strengthen civil society impact
Change requires multiple actors to be stronger and aligned. Strengthening the impact of other civil society actors is woven into how we achieve our public roles.
Latest Commentary
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As part of Nippon Steel’s takeover, U. S. Steel has trumpeted a new USD 1.9 billion investment in direct reduction of iron ore (DRI) at…
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Until recently, the steel industry was said to be ‘hard to abate,’ and companies were rarely held accountable for their lack of climate actions. What…
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The EU Emissions Trading System (ETS) is the bedrock of European climate policy and the world’s most rigorous and ambitious carbon pricing instrument. While the…
Latest Reports
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For three consecutive years, SteelWatch has analysed and scrutinised ArcelorMittal through its annual Corporate Climate Assessment, examining its reporting, its leadership statements, its earnings calls,…
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Iron and steelmaking remains one of the most emissions-intensive sectors globally, accounting for around a tenth of global carbon emissions. In an industry shaped by…
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Nippon Steel Corporation is now at a major turning point. Despite being based in resource-poor Japan, the company has grown to become the world's fourth largest steelmaker, and is now expanding its business to North America, India, Europe, and Australia. However, the "blast furnace-centered" and "domestic-centered" policies that underlie the company's corporate strategy remain strong.
