ArcelorMittal aims for carbon neutral steelmaking in Europe

The steel industry accounts for approximately seven per cent of global emissions but demand is forecast to increase: 1.7 billion tonnes of steel were produced in 2018, and this is predicted to rise to 2.6 billion tonnes in 2050.

A critical part of the steelmaking process uses carbon as a blast furnace reductant to separate oxygen from iron-ore. According to ArcelorMittal, significantly reducing the emissions footprint of steel will likely require a fundamental change in the science of steelmaking.

In its first Climate Action report, ArcelorMittal address potential technologies and the policy environment required for the steel industry to succeed in meeting the targets of the Paris Agreement.

Lakshmi Mittal, chairman and CEO, ArcelorMittal, said: “We will need a more supportive policy environment that considers the global nature of steel, the cost implications of significantly changing the way steel is made and the clean energy supply needed to do so. If we can work together to solve the problem, I’m convinced the steel industry will be able to make a significant contribution to reducing carbon emissions globally.”