ArcelorMittal
ArcelorMittal is one of the world’s top 3 steelmakers and the single biggest source of steel emissions in Europe. ArcelorMittal emits over 100 million tonnes of CO2 annually. That’s comparable to Belgium’s emissions. Once positioning itself as a climate leader, ArcelorMittal has more recently retreated from its decarbonisation commitments.
It’s actions show how serious it actually is about decarbonisation:
ArcelorMittal moved beyond delaying investment decisions to openly retreating from the climate commitments. The release of its Sustainability Report 2025 on 23 April 2026 makes clear: it is not a delay, not a recalibration, not even a step back. It is a decisive and deeply regressive shift.
- ArcelorMittal expects only around a 10% reduction in emissions intensity by 2030 — far below its previous target of 25%. Europe-specific target of 35% is dropped altogether.
- Emissions reductions overstated: Portfolio reshuffling masks CO2e intensity increase in 2025.
- Decarbonisation investment remains limited: only USD 1.1 billion out of USD 19.8 billion spent between 2021 and 2025.
- No more large-scale decarbonisation project before the early 2030s: Previously announced DRI projects have been effectively abandoned.
- Blast furnace reliance continues: capacity is being maintained — and in some cases increasing.
- Repositioning on EU climate policy: the company now supports revisiting both the phase-out of free allowances under the EU ETS and the overall ETS cap.
Company Biography
Headquartered in Luxembourg and formed in 2006 through the merger of Arcelor and Mittal Steel, ArcelorMittal employs over 125,000 people and operates in more than 60 countries, with integrated plants and mini-mills across Europe, the Americas, Africa, and Asia. Its annual steel output in 2024 was 57.9 million tonnes, serving the automotive, construction, packaging, energy, and appliance industries.
The company is vertically integrated with iron ore mining assets, producing tens of millions of tonnes of raw materials each year to feed its blast furnace–basic oxygen furnaces (BF-BOF), but it also operates and is expanding electric arc furnace (EAF) and DRI facilities. ArcelorMittal is targeting net zero by 2050. It has emissions intensity targets for 2030, but has announced that they are unlikely to be met and are under review. Noting that the data covered here does not include the joint venture ArcelorMittal Nippon Steel India (AM/NS India).
Insight
CEO: Aditya Mittal
HQ: Pétrusse building, Luxembourg City
Annual crude steel production: 57.9 million tonnes in 2024
Number of Employees: Over 125,000 people
Annual Revenue: 61.35 billion USD in 2025
Number of blast furnaces: 30
Number of electric arc furnaces: 27
Climate performance
ArcelorMittal moved beyond delaying investment decisions to openly retreating from the climate commitments it made back in 2021.
The company expects to deliver only up to 10% reduction in emissions intensity by 2030 — far below its previous target of 25%, and it dropped the Europe-specific target of 35% altogether. This is not a delay, recalibration or step back — it represents a decisive and deeply regressive shift away from structural decarbonisation.
While ArcelorMittal continues to report emissions reductions, these rely heavily on portfolio changes rather than transitioning out of carbon-intensive blast furnaces. Large-scale decarbonisation projects are pushed to the early 2030s and previously announced DRI projects have been effectively abandoned. Risk of continued reliance on coal-based production is rising.
This reflects a structural choice. Investment remains constrained within a fixed capital expenditure framework, with projects sequenced rather than scaled, limiting the speed and scope of transition. As a result, the most emissions-intensive part of steel production — ironmaking — is not being addressed at the scale required.
Bottom line: This is not a question of pace or external constraints. It is a matter of direction. ArcelorMittal is not on a credible pathway to deliver structural decarbonisation.
Key Climate Moments Timeline
28 July 2008
ArcelorMittal published its inaugural Corporate Responsibility Report 2007: “Taking Responsibility for Transforming Tomorrow”.
The report detailed significant environmental investments, with 306 million USD allocated to environmental measures and 214 million USD to R&D, particularly in renewable energy.
20 July 2009
ArcelorMittal released its Corporate Responsibility Report 2008: How will we achieve safe sustainable steel?
The report detailed a commitment made to reduce CO2 emissions by 8% by 2020
11 May 2010
ArcelorMittal released its Corporate Responsibility Report 2009: Our Progress towards Safe Sustainable Steel
Reaffirming its commitment to secure an 8% reduction in CO2 emissions by 2020, against a 2007 baseline – equivalent to 170kg reduction per tonne of steel produced.
May 2019
ArcelorMittal Publishes its first Climate Action Report (CAR)
https://corporate-media.arcelormittal.com/media/hs4nmyya/am_climateactionreport_1.pdf
June 2020
ArcelorMittal releases its climate action report in Europe report
https://corporate-media.arcelormittal.com/media/yw1gnzfo/climate-action-in-europe.pdf
July 2021
ArcelorMittal released its Climate Action Report 2 (CAR 2)
https://corporate-media.arcelormittal.com/media/ob3lpdom/car_2.pdf
26 November 2024
ArcelorMittal provided an update on its European decarbonisation plans.
ArcelorMittal announced that it would not take final investment decisions on “hydrogen ready” DRI-EAF facilities in Europe until there is ‘full visibility’ on the policy environment.
17 April 2025
ArcelorMittal publishes its 2024 Sustainability Report.
The report provides an update on the company’s most material sustainability topics, which include safety, decarbonisation, the environment, biodiversity, and people.
22 April 2025
ArcelorMittal publishes its 2025 Sustainability Report.
In this report, ArcelorMittal makes a major pivot in its climate strategy, retreating from its previously committed transition pathway.
