The third largest exporter of iron ore pellets in the global steel industry, Ferrexpo has announced targets for decarbonising its operations and announced the hiring of a dedicated Green Transition consultant, Ricardo.
In a posting on the company's website, Ferrexpo is committed to achieving zero net carbon emissions from its operations by 2050. In addition, the group has an initial commitment to achieve at least a 30% reduction in combined Category 1 and 2 emissions by 2030 from the group's baseline year 2019.
“While iron ore pellets already offer our customers the opportunity to significantly reduce their carbon footprint, it is important to have a clear intention to decarbonize our own operations. It is on this basis that we adopted the goals announced today to demonstrate both our attention to climate change and our understanding of the importance of decarbonization ... In the 18 months to June 2021, the group has already recorded more than 20% reduction in carbon emissions, which is a demonstration of our commitment environmental protection, ”said Jim North, interim CEO of the group.
Ferrexpo is an iron ore company headquartered in Switzerland and production assets in Ukraine. It has been mining, processing and marketing high quality iron ore pellets to the global steel industry for over 40 years. In 2020, the group produced 11.2 million tonnes of iron ore pellets, which is 7% more than in the previous year. The company ranks 3rd in the world for the export of pellets to the global steel industry with a market share of about 9%.
Ricardo plc is a world-class environmental, engineering and strategic consulting company listed on the London Stock Exchange. With over 100 years of engineering experience, we have an exceptional track record of delivering cutting edge and innovative cross-industry green products and solutions, helping our customers around the world improve efficiency, drive growth and create a cleaner, safer future.