ArcelorMittal Corporate Climate Assessment 2024
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.
ArcelorMittal, the world’s second largest steel company, claims to be a leader in steel decarbonisation. Because of its claim, its size, and its geographic spread, it sets the tone for climate action across the steel sector. As this Corporate Climate Assessment shows, it is a discordant tone.
ArcelorMittal has iron and steel-making operations in close to 20 countries, spanning Europe, the Americas, Africa, and Asia. Its 2023 carbon footprint of 114.3 MtCO2e is comparable to that of Belgium’s.
The assessment of SteelWatch is that 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.
Click here to download the report.
