ArcelorMittal Commits to Become Carbon Neutral by 2050

SEATTLE (Scrap Monster): Luxembourg-based integrated steelmaker ArcelorMittal has committed to be carbon neutral across its global facilities by 2050. This is an extension to its earlier commitment to reduce carbon emissions by 30% and be carbon neutral by 2050 at its European operations.

Commenting on the challenge of decarbonising the steel industry, Aditya Mittal, President and CFO, ArcelorMittal admitted that the current steel-making process has a significant carbon footprint. Being the world’s leading steelmaker, the company has great responsibility to lead the efforts to decarbonize the process. The company is committed to accept the challenge of making steel using clean energy technologies on a commercial scale, he added. He invited meaningful contributions from all parts of the economy in all regions of the world, in order to achieve net zero by 2050.

ArcelorMittal noted that the Hydrogen-DRI route and the Smart Carbon route are two low-emissions steelmaking routes, having the potential to lead to carbon-neutral steelmaking. Between them, the Smart Carbon route could deliver results sooner. The company has previously outlined necessary policy framework environment, which will enable making carbon-neutral steelmaking a reality.

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