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ArcelorMittal ranked at global leadership level on climate action
ArcelorMittal has once again been recognised by CDP for our strong performance in corporate transparency and action on climate change. ArcelorMittal has successfully retained our A- score in the 2020 CDP Climate Change assessment for the second consecutive year, putting our company within the top quartile of all metal smelting, refining, and forming companies and the top 10% of the steel industry.
A testament to contributions towards building a thriving economy
CDP, a not-for-profit charity that runs a global disclosure system for investors, companies, cities, states, and regions, scores thousands of companies that disclose climate data through its platform each year. By doing so, the competitive spirit of business to raise ambition and spur action on corporate climate action is harnessed for positive change.
ArcelorMittal’s A- grade is testament to our efforts and contributions towards building a thriving economy that works for people and the planet in the long term. The grade compares favourably to the global average D grade for metal smelting, refining, and forming companies and the C grade for the steel sector specifically. ArcelorMittal’s efforts are further reflected in the A grade scores achieved for governance, disclosure of climate related financial risk and opportunities, strategy and planning, and emissions reduction initiatives.
A commitment to becoming carbon neutral
In 2020, ArcelorMittal announced a group-wide commitment to becoming carbon neutral by 2050, while targeting a reduction of 30% by 2030 in European business. ArcelorMittal recognises the important role of disclosing climate related financial risks and opportunities in achieving this goal, as well as developing our two low-emissions technology pathways: Smart Carbon and Innovative DRI.
Commenting, Brian Aranha, Executive Vice President and Head of Strategy, CTO, R&D, CCM, Global Automotive, Communications and Corporate Responsibility, ArcelorMittal, said: “Receiving an A- from CDP for the second consecutive year is testament to the significant efforts we are making to lead the industry’s efforts to decarbonise steelmaking. Having previously outlined our commitment to the objectives of the Paris agreement, earlier this year (2020) we set ourselves the target of being carbon neutral by 2050. To achieve this, we are developing a broad range of ground-breaking, low-emissions steelmaking technologies, with several industrial-scale projects across our European operations at an advanced stage. Our target is ambitious and will be challenging. Meeting it will require a supportive policy framework, but the progress with have made with our technologies provides us with confidence that we are on the right path.”
The full list of companies assessed, as well as other publicly available climate change scores, are available on CDP’s website.