ArcelorMittal released its decarbonisation roadmap.
Arcelor Mittal released its decarbonization roadmap yesterday, setting out clear steps towards becoming a net zero carbon emissions company by 2050. ArcelorMittal’s chief executive, Kobus Verster, says the substantial transformation of the company’s current electricity supply will require an active, real transition from coal-based electricity to electricity from renewables and other clean sources. In this regard, the company has announced projects to generate at least 200 megawatts of renewable power on its premises. Verster warned however that the financial viability of renewables procurement - will be influenced by Eskom & Nersa’s pricing structures. Verster added that implementation of the decarbonization roadmap will not only change the way the company operates, but will be a catalyst for changing the steel industry and the economy of South Africa. ArcelorMittal is targeting a reduction of its carbon intensity by 25% by 2030, and 86% by 2050. One of the two blast furnaces at Vanderbijlpark will undergo an upgrade between 2027 and 2030.