XCarb® towards carbon neutral steel
ArcelorMittal and EIB announce €280m in funding for research and innovation supporting ArcelorMittal’s decarbonisation objectives22 October 2021
The €280m loan granted to ArcelorMittal by the European Investment Bank (EIB) aims at supporting ArcelorMittal’s European research and development programme and the associated capital expenditure in the fields of environmental, climate, and energy projects over the period 2021-2023.It will help the group reach its ambitious climate action goals and thus reduce the environmental footprint of its manufacturing facilities, steel products, and technological solutions. ArcelorMittal Europe has committed to reduce CO2 emissions intensity by 35% by 2030, with the ArcelorMittal group having set a 2050 net-zero emissions target.Corporate News
ArcelorMittal joins forces with Breakthrough Energy’s Catalyst programme via XCarb®18 October 2021
ArcelorMittal recently announced it has become an anchor partner in Breakthrough Energy’s Catalyst programme, committing to an equity investment of $100 million over the next five years through the XCarb® innovation fund.Corporate News
Introducing ArcelorMittal’s XCarb® green steel certificates
XCarb® is the new brand name for ArcelorMittal’s ongoing global programme of steelmaking innovation targeted at carbon neutral steel by 2050. The initiatives that are part of XCarb® aim to reduce ArcelorMittal’s carbon footprint.
The XCarb® green steel certificate initiative
One of the first initiatives is XCarb® green steel certificates from ArcelorMittal Europe – Flat Products. The certificates are issued by ArcelorMittal Europe – Flat Products and are based on CO2 savings which have been assured by DNV, an independent body. The savings are calculated in accordance with the Greenhouse Gas Protocol for Project Accounting.
Purchasing an XCarb® green steel certificate officially passes the CO2 savings achieved by ArcelorMittal Europe – Flat Products to our customer. This enables the customer to report a corresponding reduction in their Scope 3 CO2 emissions in accordance with the GHG Protocol Corporate Accounting and Reporting Standard.
ArcelorMittal Europe Communications
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