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TOP STORY
Unless it acts fast, ArcelorMittal will lose the race to sustainable steel
Pascal Husting ·. 14.08.2024
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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.
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This report calls for the end of coal in steel production. It shows how coal- based production is driving the huge and dangerous climate emissions…
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SteelWatch director Caroline Ashley challenges the complacency and greenwashing we hear from steel companies about decarbonisation. She sets out the urgency we need for any hope of Paris alignment and introduces SteelWatch.
