ArcelorMittal launches XCarb™, signalling its commitment to producing carbon neutral steel
March 17 2021 - 6:30AM
- Groundbreaking ‘XCarb™ green steel certificates’
offering customers Scope 3 emissions reductions
- ‘XCarb™ recycled and renewably produced’ pioneering
customer product with CO2 as low as 300kg/tonne
- ‘XCarb™ innovation fund’ for breakthrough technologies
for net zero steelmaking
17 March 2021 11:30 CET
ArcelorMittal today announces the launch of its first three
XCarb™ initiatives, as part of the company’s journey to deliver on
its 2050 net zero commitment.
XCarb™ will ultimately bring together all of ArcelorMittal’s
reduced, low and zero-carbon products and steelmaking activities,
as well as wider initiatives and green innovation projects, into a
single effort focused on achieving demonstrable progress towards
carbon neutral steel.
To support its launch, ArcelorMittal today announces three
XCarb™ branded initiatives:
- Our ‘XCarb™ green steel certificates’, which will enable us to
support our customers as they seek to reduce their Scope 3
emissions;
- ‘XCarb™ recycled and renewably produced’ pioneering products
for customers;
- Our ‘XCarb™ innovation fund’.
Commenting, Aditya Mittal, CEO, ArcelorMittal,
said:
“Climate change is an overwhelming societal priority. At
ArcelorMittal, we have an important role to play in helping society
deliver the objectives of the Paris Agreement and are determined to
lead our industry’s transition to carbon neutral steel.
“We have the scale, resources and technological prowess to make
a significant impact, and have already identified the routes to
carbon neutral steelmaking through our Smart Carbon and Innovative
DRI pathways.
“Our launch of XCarb™ today brings the full breadth of our
decarbonisation activity together under a single umbrella brand. It
aims to demonstrate to stakeholders the diverse range of
initiatives we are undertaking in pursuit of our 2050 net zero goal
while also providing our customers with solutions which help them
address their own carbon reduction targets, demonstrating the
important role steel has to play in a future, circular
economy.”
The first XCarb™ initiatives to be launched are as follows:
‘XCarb™ green steel certificates’
Across our ArcelorMittal Europe - Flat Products operations, we
are investing in a broad range of initiatives to reduce carbon
emissions from the blast furnace. These initiatives range from our
flagship Smart Carbon projects, such as Torero (transforming
biomass into bio-coal to replace the use of coal in the blast
furnace) and Carbalyst (capturing carbon-rich blast furnace waste
gas and converting it into bio-ethanol, which can then be used to
make low-carbon chemical products) to capturing hydrogen-rich waste
gases from the steelmaking process and injecting them into the
blast furnace to reduce coal use.
These effort-intensive investments result in considerable CO2
savings, which can be passed onto customers in the form of the
steel industry’s first-ever certification scheme. CO2 savings are
aggregated, independently assured, and then converted into
XCarb™ green steel certificates using a conversion
factor that represents the average CO2 intensity of integrated
steelmaking in Europe. The scheme therefore provides customers with
the opportunity to buy certificates attached to their physical
orders of steel, enabling them to report a reduction in their Scope
3 carbon emissions in accordance with the GHG Protocol Corporate
Accounting and Reporting Standard. The company anticipates it will
have 600,000 tonnes of equivalent green steel tonnes available by
the end of 2022.
‘XCarb™ recycled and renewably produced’
‘XCarb™ recycled and renewably produced’ has been designed for
products made via the Electric Arc Furnace (‘EAF’) route using
scrap steel. Recycled and renewably produced means that the
physical steel was made with recycled material (scrap) using
renewable electricity, giving it an extremely low CO2 footprint
that can be as low as approximately 300kg of CO2 per tonne of
finished steel when the metallics are 100% scrap. This customer
offer is for both flat and long products. The electricity used in
the steelmaking process is independently verified, with a
‘Guarantee of Origin’ given that it is from renewable sources.
‘XCarb™ innovation fund’
ArcelorMittal has launched an innovation fund which will invest
up to $100 million annually in groundbreaking companies developing
pioneering or breakthrough technologies that will accelerate the
steel industry’s transition to carbon neutral steelmaking. To be
eligible for funding, companies will have to be developing
technologies which support ArcelorMittal on its journey to
decarbonise. The technology also needs to be commercially scalable.
For further detail refer to the separate press release the company
has issued today.
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel and
mining company, with a presence in 60 countries and primary
steelmaking facilities in 17 countries. In 2020, ArcelorMittal had
revenues of $53.3 billion and crude steel production of 71.5
million metric tonnes, while iron ore production reached 58.0
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.
ArcelorMittal is listed on the stock exchanges
of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and
on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and
Valencia (MTS).
For more information about ArcelorMittal please
visit: http://corporate.arcelormittal.com/
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