Steel giant ArcelorMittal Nippon Steel vows 20% emissions cut by 2030

6 Feb 2024 , 10:06 AM

In its inaugural Climate Action Report, released on Monday, ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between multinational steelmakers ArcelorMittal and Nippon Steel, announced a plan to cut emissions intensity by 20% by 2030.

The key to reaching the goal is boosting renewable energy to provide 100% of the grid’s electrical demands, more than doubling the amount of scrap steel recycled, and improving operating efficiency through new technological advancements.

In order to hasten the adoption of innovative technologies required to make net zero steel in India, such as green hydrogen and carbon capture, utilization, and storage (CCUS), the report also lays out a number of key investments, pilots, and collaborations.

The research also lays out suggestions for supportive policies, such as tax breaks, new guidelines for foreign direct investment (FDI), and a green grid.

‘As our company and nation expand, we are committed to addressing the challenge of decoupling development from emissions,’ stated Aditya Mittal, Chairman of AM/NS India. Research suggests that if steel production remains unchanged, increased demand may cause sector emissions to climb by 200% by the year 2050.

‘With a roadmap for achieving net-zero emissions in the long term, we announce today that we are targeting reduction of AM/NS India’s emission intensity by an additional 20%,’ he continued.

In addition, Mittal stated that AM/NS India has decreased its emissions intensity by one-third since 2015, making it one of the lowest emissions intensities among Indian integrated steel makers.

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