As the world’s leading steel company, we are committed to leading our industry’s efforts to decarbonise, and to be part of the solution to the world reaching net-zero by 2050. In addition to our 2050 net-zero target, we have recently set a Group target of reducing our CO2e emissions intensity by 25% by 2030, and in our European operations, by 35% by 2030. These targets are deliberately the most ambitious of any steelmaker, reflecting our intent to drive meaningful decarbonisation progress this decade.
Innovation is central to our success, with the onus we place on research and development (R&D) ensuring we are at the forefront of the evolution of steelmaking processes and products. We are adopting the same approach when it comes to decarbonisation, having developed the industry’s broadest and most flexible suite of low-emissions steelmaking technologies and integrating them into two pathways, Smart Carbon and Innovative-DRI, both of which hold the potential to deliver carbon-neutral steelmaking.
It should be noted, however, that innovative steel production solutions require at the same time enormous capital expenditures, wide access to clean energy and the appropriate legal framework necessary during the transition process to ensure the competitiveness of those who have challenged climate threats. As a leading metallurgical company, we are well aware of the capabilities of our products, which can not only be produced in a more sustainable way, but also indirectly participate in the decarbonisation process, e.g. as the backbone of the renewable energy infrastructure, not to mention the excellent recycling properties of steel. It is from steel that wind farms or parts of solar panels m.in are made, which have an impact on reducing global CO2 emissions