ArcelorMittal Published Guidelines for Low-Carbon Emissions Steel Standard

SEATTLE (Scrap Monster): ArcelorMittal announced publication of a new concept for a low-carbon emissions steel standard. It aims to incentivize the decarbonisation of steelmaking across the globe and create market demand for lower and ultimately near-zero, carbon emissions physical steel products.

The concept proposes a dual scoring system comprising of a life cycle assessment (LCA) value and a rating system, which measures progress towards near-zero. Apart from incentivizing the decarbonisation of both primary and secondary steelmaking, it also helps to provide transparency and consistency across steel products. Moreover, the concept supports the development of markets for low-carbon emissions steel.

RELATED NEWS:

ArcelorMittal Decarbonization Plan Received Government Funding

ArcelorMittal Highlights Steel Sector Decarbonisation Efforts

Brad Davey, Executive Vice President, ArcelorMittal noted that the company has set a standard to classify low-carbon emissions steel. The concept will ensure that both primary and secondary steelmakers are incentivized to further improve their emissions and rewarded for their progress towards near-zero emissions.

Geert van Poelvoorde, Executive Vice President and CEO of ArcelorMittal Europe noted that a transition to the costlier low-carbon steelmaking requires huge investment. The dual approach is expected to act a s a vital component in ensuring that every steelmaking company contributes to achieving the Paris Agreement, he added.