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ArcelorMittal promises to cut CO2 emissions by 35% by 2030

Ukraine / Europe / Ferrous metallurgy
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For these purposes, the largest metallurgical company in the world intends to spend up to $ 10 billion. A billion of them will be invested in Ukraine.

ArcelorMittal promises to cut CO2 emissions by 35% by 2030

The world's largest steel producer outside of China, the British billionaire's ArcelorMittal steel company, Lakshmi Mittal, has released its second climate report, in which it announced that by 2030 its CO2 emissions in Europe will be reduced by 35%, and worldwide by 25%. % to the level of 2018.

“ArcelorMittal is working hard to be at the forefront of our sector towards zero emissions. We believe that this will not only help decarbonize the global economy, but also open up opportunities in many aspects of our business, ”the company's press service quotes its CEO Aditya Mittal.

Achievement of the set goals is conditioned by a number of assumptions:

  • the cost of green hydrogen will become increasingly competitive over the next decade, but it will still require government support;
  • it will take time to build a large carbon capture, use and storage (CCUS) infrastructure. While Europe is expected to take the lead in this, the CCUS infrastructure could expand rapidly in the US and Canada as well;
  • different regions of the world will continue to move at very different rates and their climatic ambitions will differ;
  • the dynamics of the creation of climate legislation in different regions of the world will be 5-10 years slower than in Europe.

As noted, in order to achieve climate targets by 2030, ArcelorMittal will need a total of about $ 10 billion. At the same time, it is expected that part of the funding will be obtained from taxpayers' money in the countries of presence.

The company believes that the Spanish plant ArcelorMittal Sestao will be the first carbon-neutral metallurgical plant in the world by 2025.

As reported, ArcelorMittal plans to achieve full carbon neutrality by 2050.

ArcelorMittal is a leading global steel and mining company with a presence in 60 countries and manufacturing assets in 17 countries. In Ukraine, ArcelorMittal owns the largest mining and metallurgical plant ArcelorMittal Kryvyi Rih and a number of small companies, in particular, PJSC ArcelorMittal Berislav.

ArcelorMittal Kryvyi Rih is the largest manufacturer of rolled steel in Ukraine. It specializes in the production of long products, in particular, rebar and wire rod. plans to invest about 1 billion US dollars in new projects for environmental modernization and development of production in Ukraine.

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