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Coal
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ArcelorMittal, the world’s second-largest steelmaker, is failing in its claim to be a leader on climate change, having spent just one third of the USD1.5 billion figure it pledged to invest in decarbonisation over the past three years, according to a new report from advocacy group SteelWatch.
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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.
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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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Japanese banks, including Mitsubishi UFJ Financial, Mizuho Financial, SMBC Group, and Sumitomo Mitsui Trust, have provided more than USD 66 billion to the 50 biggest companies developing metallurgical coal projects for steel production outside of China.
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BlueScope has been handed AUD136.8 million from the Australian government's Critical Inputs to Clean Energy Industries (CICEI) program to reline a blast furnace at its…
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Notice of briefing on the urgency of phasing out the use of coal in steelmaking Steelwatch, a new civil society organization aiming to decarbonize the steel industry, held a special briefing for Asian media on July 11, introducing the organization and presenting its first report, Steelwatch. Announcing an end to the use of coal in production.
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The steel industry, which is responsible for 7-9% of global CO2 emissions, is facing increasing pressure to clean up its act and ditch its reliance…
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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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A 3 page summary of the report: Sunsetting Coal in Steel Production. It highlights why coal is the problem in steel-making and summarises our call…