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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  ArcelorMittal    MT   LU1598757687

ARCELORMITTAL

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ArcelorMittal : Outlines Climate Ambitions

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05/29/2019 | 05:47am EDT

By Maitane Sardon

ArcelorMittal(MT.FR) on Wednesday outlined new climate targets as part of its efforts to be more environmentally responsible.

The steelmaker and iron-ore miner said it aims to be carbon neutral in its European operations by 2050 and significantly reduce its global CO2 emissions.

The strategy comes as the steelmaking industry, which generates between 7% and 9% of the world's CO2 according to the World Steel Association, faces increasing pressure from investors using environmental criteria in their decisions.

Some of ArcelorMittal's climate goals are aimed at reducing its carbon footprint in the production of steel. These measures include the use of clean power and circular carbon energy sources such as waste biomass, instead of fossil fuels.

The company is also investing in carbon capture and storage technology to achieve carbon neutrality in its European operations by balancing carbon emissions with carbon removal.

In 2018, ArcelorMittal reported an average footprint intensity of 2.12 tons of carbon dioxide for a ton of crude steel. This was in line with previous years but higher than the global average of 1.83 tons of CO2 for a ton of crude steel. The company said its higher intensity was due to a greater use of emissions-intensive steelmaking routes such as those in which iron ore is smelted.

While ArcelorMittal has stated its intention to reduce its emissions, British nonprofit InfluenceMap said the steel producer has been one of the most active in opposing carbon pricing in the countries where it operates. It said the company has consistently lobbied against strengthening the cost applied to carbon pollution in Europe.

Write to Maitane Sardon at maitane.sardon@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
ARCELORMITTAL 0.95% 14.854 End-of-day quote.-18.29%
ARCELORMITTAL 0.97% 14.844 Delayed Quote.-18.17%
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Financials (USD)
Sales 2019 74 188 M
EBIT 2019 3 596 M
Net income 2019 2 034 M
Debt 2019 9 832 M
Yield 2019 1,44%
P/E ratio 2019 9,12x
P/E ratio 2020 5,37x
EV / Sales2019 0,36x
EV / Sales2020 0,33x
Capitalization 16 816 M
Chart ARCELORMITTAL
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Technical analysis trends ARCELORMITTAL
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 22,96  $
Last Close Price 16,66  $
Spread / Highest target 102%
Spread / Average Target 37,8%
Spread / Lowest Target -59,7%
EPS Revisions
Managers
NameTitle
Lakshmi Niwas Mittal Chairman & Chief Executive Officer
Aditya Mittal President & Chief Financial Officer
Brian E. Aranha CTO, Executive VP, Head-Research & Development
Michel Wurth Non-Independent Non-Executive Director
Vanisha Mittal Bhatia Non-Independent Non-Executive Director
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NOVOLIPETSK STEEL PAO7.60%14 755
NOVOLIPETSK STEEL PAO--.--%14 755