The joint venture ArcelorMittal Nippon Steel aims to reduce emissions by 20% by 2030.
business-standard.com
India
06-02-2024
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In its inaugural Climate Action Report, released on Monday, ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between multinational steelmakers ArcelorMittal and Nippon Steel, announced a plan to cut emissions intensity by 20% by 2030.
The key to reaching the goal is boosting renewable energy to provide 100% of the grid's electrical demands, more than doubling the amount of scrap steel recycled, and improving operating efficiency through new technological advancements.
Aditya Mittal, Chairman, AM/NS India, said, “As both our company and country expand, we are committed to addressing the challenge of decoupling development from emissions. Without a transformation in steel production, research indicates rising demand could lead to a 200 per cent increase in sector emissions by 2050.”
“Today, we announce that we are targeting a reduction in AM/NS India’s emission intensity by an additional 20 per cent, with a roadmap for achieving net-zero emissions in the long term,” he added.