Arcelor Mittal was ranked first in the recent Carbon Disclosure Project (CDP) report Melting Point in the categories of low-carbon innovations, transition opportunities, data transparency, renewable-energy use, and board and executive climate management; it was second overall in the rankings.

The new report is based on detailed analysis across a range of carbon and transitional indicators that could have a significant impact on company performance.

The League Tables are designed to serve as a proxy for business readiness in an industry that will face increasing challenges as governments increase their efforts to implement the Paris Agreement.

Alan Knight, corporate responsibility general manager at Arcelor Mittal (www.arcelormittal.com), said: “While steel has a lower carbon intensity than many other materials, the large volumes produced globally mean that the industry emits more than three gigatons of CO₂ annually.

“With the demand for steel ever increasing, we know we have a role to play and a clear responsibility to significantly reduce the carbon footprint of steel.”

Mr Knight says: “We’re very pleased that the CDP League Tables have recognised our efforts.

“We are trialling new technologies in our steel plants, making significant investments in R&D and working with our customers to provide the most sustainable products.

“We know that there is more work to be done to achieve our ambition of being carbon neutral in Europe by 2050, and to significantly reduce our carbon emissions world-wide.”

Arcelor Mittal recently published its first Climate Action report, in which it announced its ambition to significantly reduce its CO₂ emissions globally and be carbon-neutral in Europe by 2050.

To achieve this goal, the company is “building a strategic road-map linked to the evolution of public policy and developments in low-emission steel-making technologies”.

A target to 2030 will be launched in 2020, replacing the company’s current target of an 8% carbon footprint reduction by 2020 (against a 2007 baseline).