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Birthday : 06/19/1950
Place of birth : Rajasthan - India
Biography : Founder of Mittal Steel Co. NV, Lakshmi Niwas Mittal is an Indian businessperson who has been the he

Arcelormittal Publishes First Climate Action Report

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05/29/2019 | 02:17am EDT
   Report states ArcelorMittal's ambition to significantly reduce global 
CO(2) emissions and be carbon neutral in its European operations by 2050 
   29 May 2019, 08:00 CET - ArcelorMittal ('the Company') has today 
published its first Climate Action report in which it announces its 
ambition to significantly reduce CO(2) emissions globally and be carbon 
neutral in Europe by 2050. To achieve this goal the Company is building 
a strategic roadmap linked to the evolution of public policy and 
developments in low-emissions steelmaking technologies. A target to 2030 
will be launched in 2020, replacing the Company's current target of an 
8% carbon footprint reduction by 2020, against a 2007 baseline. 
   The report explains in greater detail the future challenges and 
opportunities for the steel industry, the plausible technology pathways 
the Company is exploring as well as its views on the policy environment 
required for the steel industry to succeed in meeting the targets of the 
Paris Agreement. 
   Commenting, Lakshmi Mittal, Chairman and CEO, ArcelorMittal, said: 
   "We believe it can be possible for the steel industry to deliver carbon 
emissions reductions targets in line with the Paris agreement. We are 
committed to this objective and are actively piloting several low-carbon 
steelmaking technologies. Central to achieving this aspiration will be 
supportive policy to ensure a global level playing field, access to 
sufficient clean energy at competitive prices and access to finance. The 
energy industry has made great strides in creating a pathway to lower 
emissions through supportive policy and we are confident the same can be 
true for steel. 
   "Limiting the temperature increase to two degrees or less is no easy 
challenge. Real and genuine understanding of the complexities and an 
approach of collaboration and flexibility will be critical if we are to 
succeed. Specifically, we will need a more supportive policy environment 
that considers the global nature of steel, the cost implications of 
significantly changing the way steel is made and the clean energy supply 
needed to do so. If we can work together to solve the problem, I'm 
convinced the steel industry will be able to make a significant 
contribution to reducing carbon emissions globally." 
   As one of the world's most prolific materials, with 1.7 billion tonnes 
of steel produced in 2018, the steel industry today accounts for 
approximately 7% per cent of global emissions. And with demand for steel 
and materials set to further increase - forecasts show demand rising to 
2.6 billion tonnes in 2050 - it is vital the industry finds ways to 
significantly reduce its carbon emissions to successfully meet the 
ambitions of the Paris agreement and help limit the global average 
temperature rise to less than two degrees. 
   At present carbon is used as a reductant in the blast furnace to 
separate oxygen from iron-ore as a critical part of the steel-making 
process. Significantly reducing the emissions footprint of steel will, 
in all likelihood, require a fundamental change in the science of 
   As the world's leading steel company, ArcelorMittal recognises it has a 
leading role to play in developing breakthrough technologies that will 
support and enable a global transition to a low-carbon economy. The 
Company has identified three distinct pathways that have the potential 
to deliver a significant reduction in carbon emissions. These are: 
   -- Clean power steelmaking, using clean power as the energy source for 
      hydrogen-based steelmaking, and longer-term for direct electrolysis 
   -- Circular carbon steelmaking, which uses circular carbon energy sources, 
      such as waste biomass, to displace fossil fuels in steelmaking, thereby 
      enabled low-emissions steelmaking; 
   -- Fossil fuel carbon capture and storage, where the current method of steel 
      production is maintained but the carbon is then captured and stored or 
      re-used rather than emitted into the atmosphere. 
   ArcelorMittal believes that all three pathways offer significant 
emissions reduction potential aligned with science-based targets and is 
currently testing various technologies across all three pathways in its 
European operations. This technology portfolio will enable the Company 
to pursue the appropriate option depending on the pace of technology and 
public policy development, which will impact which pathway becomes the 
most viable in the countries and regions where the Group operates. 
   In terms of public policy recommendations, ArcelorMittal advocates the 
development and implementation of carbon regulations and market 
mechanisms to enable the deployment of low-emissions steelmaking that 
will help to deliver the global objectives of the Paris agreement. The 
Company's global policy recommendations include: 
   -- Global level playing field is needed to maintain the competitiveness of 
      low-emissions steelmaking and to avoid the risk of carbon leakage, for 
      example, through green border adjustments; 
   -- Access to abundant clean energy at affordable prices will be key to be 
      able to scale up low-emissions technologies; 
   -- Facilitating necessary clean energy infrastructure will be needed to 
      advance large-scale implementation of low-emissions technologies; 
   -- Access to sustainable finance in order to accelerate and roll out 
      technology development; 
   -- Accelerate transition to a circular economy by incentivising the use of 
      waste streams as inputs in manufacturing processes. 
   ArcelorMittal will also intensify dialogue with stakeholders who have an 
important role to play in enabling these technology routes to become a 
viable reality and highlights the need for a more collaborative approach 
if the full potential is to be unlocked. 
   The report is available for download at 
   About ArcelorMittal 
   ArcelorMittal is the world's leading steel and mining company, with a 
presence in 60 countries and an industrial footprint in 19 countries. 
Guided by a philosophy to produce safe, sustainable steel, we are the 
leading supplier of quality steel in the major global steel markets 
including automotive, construction, household appliances and packaging, 
with world-class research and development and outstanding distribution 
   Through our core values of sustainability, quality and leadership, we 
operate responsibly with respect to the health, safety and wellbeing of 
our employees, contractors and the communities in which we operate. 
   For us, steel is the fabric of life, as it is at the heart of the modern 
world from railways to cars and washing machines. We are actively 
researching and producing steel-based technologies and solutions that 
make many of the products and components people use in their everyday 
lives more energy efficient. 
   We are one of the world's five largest producers of iron ore and 
metallurgical coal. With a geographically diversified portfolio of iron 
ore and coal assets, we are strategically positioned to serve our 
network of steel plants and the external global market. While our steel 
operations are important customers, our supply to the external market is 
increasing as we grow. 
   In 2018, ArcelorMittal had revenues of $76.0 billion and crude steel 
production of 92.5 million metric tonnes, while own iron ore production 
reached 58.5 million metric tonnes. 
   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: 
Contact information ArcelorMittal 
 Investor Relations 
Europe                                     +44 20 7543 1156 
Americas                                    +1 312 899 3985 
Retail                                     +44 20 7543 1156 
SRI                                        +44 20 7543 1156 
Bonds/Credit                                +33 171 921 026 
ArcelorMittal Corporate Communications 
 Paul Weigh                                +44 20 3214 2419 

Stocks mentioned in the article
ChangeLast1st jan.
ARCELORMITTAL -3.20% 15.088 End-of-day quote.-17.01%
ARCELORMITTAL -0.97% 14.928 Delayed Quote.-16.79%
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