ArcelorMittal sets 2050 group carbon emissions target of net zero
30 Septiembre 2020 - 2:00AM
30 September 2020, 09:00 CET
ArcelorMittal (‘the Company’) today announces a group-wide
commitment to being carbon neutral by 2050, building on the
commitment made in 2019 for its European business to reduce
emissions by 30% by 2030, and be carbon neutral by 2050.
Commenting on the 2050 net zero target, before speaking
about the challenge of decarbonising the steel industry at the
Financial Times Commodities Conference today, Aditya Mittal,
President and CFO, said:
“If the world is to achieve net zero by 2050 it will require all
parts of the economy in all regions of the world to
contribute. As the world’s leading steel company, we believe
we have a responsibility to lead the efforts to decarbonise the
steel-making process, which today has a significant carbon
footprint.
“Steel will remain a vital material for our world and indeed is
the most circular of all materials. Our challenge is to be
able to make steel using clean energy technologies* on a commercial
scale, while remaining competitive in the global steel
industry.
“We are working on various pilot technologies which have
excellent potential. In Hamburg, where we own and operate
Europe’s only DRI-EAF facility, we will test not only the ability
of hydrogen to reduce the iron-ore and form DRI, but also then test
that carbon-free DRI in the EAF in the actual steel-making
process.
“Hydrogen has a lot of potential but given the significant
transition cost, we also believe in working on solutions for the
traditional integrated route. This essentially follows the
bio-energy, carbon capture and utilisation and storage route, which
as stressed by both the IPCC and the IEA will be critical to
achieving net zero by 2050. What is also interesting about this
route is that it has the potential not only to provide carbon
neutral steel, but also other products that will help the chemical
industry make plastics in a carbon neutral way.
“Critical to turning the target into reality will be policy to
enable steel to remain competitive while decarbonizing –
particularly given every region of the world is moving at a
different pace. We intend to actively engage with governments
to chart a way forward that enables the steel industry to make
meaningful progress through carefully designed policy that protects
against carbon leakage.”
ArcelorMittal has identified two low-emissions steelmaking
routes, both of which have the potential to lead to carbon-neutral
steelmaking:
- The Hydrogen-DRI route, which uses hydrogen as a reducing
agent. A demonstration plant in Hamburg, where ArcelorMittal owns
Europe’s only operational DRI-EAF plant, is currently planned with
a targeted start-up in 2023.
- The Smart Carbon route is centred around modifying the blast
furnace route to create carbon neutral steelmaking through the use
of circular carbon - in the form of sustainable biomass or carbon
containing waste streams - and carbon capture and use (CCU) and
storage (CCS). ArcelorMittal is well advanced on constructing
several commercial-scale projects to test and prove a range of
Smart Carbon technologies. Start-up target for key projects is
targeted in 2022.
While both routes have the potential to deliver carbon-neutral
steel by 2050, we believe that Smart Carbon can deliver results
sooner, and make a meaningful contribution to CO2 emissions
reduction this decade, while industrial scale production from the
Hydrogen-DRI route is unlikely to be significant before 2030 due to
the current high costs.
The Company has also previously outlined the policy framework
environment it believes is required for carbon-neutral steelmaking
to become a reality, which includes:
- A global level playing field which avoids the risk of carbon
leakage through mechanisms such as green border adjustments
- Access to abundant and affordable clean energy
- Policies which support the development of the necessary clean
energy infrastructure
- Access to sustainable finance for low-emissions steelmaking,
and
- Policies which accelerate the transition to a circular
economy.
ArcelorMittal will set out further detail in support of its 2050
net zero target in its second climate action report, which is
anticipated to be published before the end of 2020.
ArcelorMittal is a member of the Energy Transitions Commission
(ETC) and is an active member of the ETC’s Net Zero Steel
Initiative underway in partnership with the World Economic
Forum. ArcelorMittal is also actively engaged with the
Science Based Targets Initiative (SBTI) to define an achievable SBT
for the steel industry taking into account the two distinct routes
in operation today.
*In its Climate Action Report and Europe Climate Action Report,
ArcelorMittal refers to three clean energy vectors: clean
electricity, circular carbon, and CCS.
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel and
mining company, with a presence in 60 countries and primary
steelmaking facilities in 18 countries. In 2019, ArcelorMittal had
revenues of $70.6 billion and crude steel production of 89.8
million metric tonnes, while iron ore production reached 57.1
million metric tonnes.
Our goal is to help build a better world with
smarter steels. Steels made using innovative processes which use
less energy, emit significantly less carbon and reduce costs.
Steels that are cleaner, stronger and reusable. Steels for electric
vehicles and renewable energy infrastructure that will support
societies as they transform through this century.
With steel at our core, our inventive people and
an entrepreneurial culture at heart, we will support the world in
making that change. This is what we believe it takes to be the
steel company of the future.
For more information about ArcelorMittal please
visit: http://corporate.arcelormittal.com/
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