- ArcelorMittal (MT, Financial) achieved a 50% reduction in absolute emissions compared to its 2018 operational perimeters.
- The company invested $1 billion in decarbonization projects, producing 57.9 million tonnes of crude steel in 2024.
- 42 facilities have been certified with ResponsibleSteel™, with nine new certifications in 2024.
ArcelorMittal (MT) has published its 2024 Sustainability Report, showcasing a significant milestone in reducing its carbon footprint by nearly 50% from its 2018 operational boundaries. The steel giant has directed $1 billion towards various decarbonization projects, underscoring its commitment to more sustainable production practices.
Key achievements highlighted in the report include increasing the production share through electric arc furnace technology to 25% of its global output, with 42 production sites now holding ResponsibleSteel™ certification, an increase of nine new sites this year.
The company reported robust financial performance with revenues reaching $62.4 billion in 2024, alongside the production of 57.9 million tonnes of crude steel and 42.4 million tonnes of iron ore. Despite these advancements, ArcelorMittal stresses that transformative ironmaking technologies, such as carbon capture and the use of green hydrogen for DRI-EAF, are not expected to be economically viable until after 2030, contingent upon favorable policy developments, particularly within European regulations.
Aditya Mittal, CEO of ArcelorMittal, emphasized the importance of aligning sustainability with business sensibility, noting that the company views these efforts as central to maintaining its operational license while actively managing environmental impacts. The company continues to pioneer in sustainable steel production, maintaining a CO2 intensity of 1.75 tonnes per tonne of crude steel, which is lower than the WorldSteel Association's global average.
