ArcelorMittal Sets 2030 Emissions Goal for European Division

Date : 12/13/2019 @ 10:30AM
Source : Dow Jones News
Stock : ArcelorMittal (MT)
Quote : 13.91  0.0 (0.00%) @ 12:00AM
ArcelorMittal share price Chart

ArcelorMittal Sets 2030 Emissions Goal for European Division

ArcelorMittal (EU:MT)
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By Dieter Holger

 

ArcelorMittal (MT.FR), the world's largest steelmaker, said Friday that it has set a target to cut 30% of carbon-dioxide emissions at its European division manufacturing flat products by 2030.

Flat products include slabs, hot- and cold-rolled coil, coated steel products, tinplate and heavy plate. They are typically found in heavy machinery, construction and the automotive sector.

ArcelorMittal said it would achieve its goal by using clean power, so-called circular carbon energy sources such as waste biomass, and carbon capture-and-storage.

"It's not a one-size-fits-all model, as different parts of our business are at varying starting points," said Geert Van Poelvoorde, chief executive of ArcelorMittal Europe - Flat Products, said in prepared remarks.

ArcelorMittal's ambitions come as the steel industry faces pressure from European lawmakers to lower its environmental impact. The steel industry is one of the top CO2 emitters globally, accounting for up to 9% of all direct fossil fuel emissions, according to the World Steel Association, a trade group based in Brussels.

"We've spent the last few years testing a range of technologies and now is the time to scale up and put them into action," Mr. Van Poelvoorde said.

 

Write to Dieter Holger at dieter.holger@wsj.com; @dieterholger

 

(END) Dow Jones Newswires

December 13, 2019 05:15 ET (10:15 GMT)

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