ArcelorMittal ‘increasingly unlikely’ to meet 2030 climate goals due to policy headwinds
The steelmaker has reduced absolute Scope 1 and 2 emissions by 46% since 2018.
Steel producer ArcelorMittal has warned that adverse policy developments have made it “increasingly unlikely” that it will be able to meet its 2030 climate targets around steel carbon intensity – despite having cut operational emissions by nearly 50%.
Steel remains one of the world’s most carbon-intensive industrial products, and Europe’s largest steelmaker has committed to reducing the carbon intensity of its steel by 35% by 2030, and making it carbon neutral by 2050. To achieve this, ArcelorMittal was betting on the development of technologies such as green hydrogen and carbon capture and storage (CCS) – but recent political and economic uncertainty has slowed their adoption.
