ArcelorMittal commits to decarbonization plans in Europe
- ArcelorMittal outlines plans to invest in hydrogen-ready technology for lower carbon emissions.
- The company is committed to producing more low-carbon steel and has achieved a 28.2% reduction in emissions since 2018.
- ArcelorMittal's efforts reflect a growing trend towards decarbonization in the steel industry aligning with EU regulations.
In November 2024, ArcelorMittal provided an update on its decarbonization strategy in Europe, reaffirming its commitment to reducing carbon emissions in steel production. The company plans to invest in hydrogen-ready technology as a step toward achieving its goal of net-zero emissions by 2050. This initiative is supported by host countries, which provide funding in cooperation with the European Commission. Furthermore, ArcelorMittal is exploring a phased approach to investment decisions, beginning with the construction of electric arc furnaces that utilize scrap steel to minimize emissions. As part of its efforts, the company is also ramping up production capacity in its Sestao flat products plant in Spain to enhance the availability of low-carbon emissions steel products. Overall, ArcelorMittal has observed a 28.2% reduction in absolute emissions in Europe since 2018 and has been leading the market with its XCarb® low-carbon emissions steel offerings.