ArcelorMittal Launches XCarb Initiative for Producing Green Steel
ArcelorMittal XCarb Green Steel
ArcelorMittal

ArcelorMittal Launches XCarb Initiative for Producing Green Steel

ArcelorMittal has announced the launch of its first three XCarb initiatives, as part of the company’s journey to deliver on its 2050 net zero commitment.

ArcelorMittal has announced the launch of its first three XCarb initiatives, as part of the company’s journey to deliver on its 2050 net zero commitment. XCarb will ultimately bring together all of ArcelorMittal’s reduced, low and zero-carbon products and steelmaking activities, as well as wider initiatives and green innovation projects, into a single effort focused on achieving demonstrable progress towards carbon neutral steel. ArcelorMittal CEO Mr Aditya Mittal said “Climate change is an overwhelming societal priority. At ArcelorMittal, we have an important role to play in helping society deliver the objectives of the Paris Agreement and are determined to lead our industry’s transition to carbon neutral steel. We have the scale, resources and technological prowess to make a significant impact, and have already identified the routes to carbon neutral steelmaking through our Smart Carbon and Innovative DRI pathways. Our launch of XCarb brings the full breadth of our decarbonisation activity together under a single umbrella brand. It aims to demonstrate to stakeholders the diverse range of initiatives we are undertaking in pursuit of our 2050 net zero goals while also providing our customers with solutions which help them address their own carbon reduction targets, demonstrating the important role steel has to play in a future, circular economy.”

To support its launch, ArcelorMittal announced three XCarb branded initiatives

  1. XCarb Green Steel Certificates

  2. XCarb Recycled & Renewably Produced Products

  3. XCarb Innovation Fund

XCarb Green Steel Certificates - Across ArcelorMittal Europe Flat Products operations, ArcelorMittal is investing in a broad range of initiatives to reduce carbon emissions from the blast furnace. These initiatives range from flagship Smart Carbon projects, such as Torero (transforming biomass into bio coal to replace the use of coal in the blast furnace) and Carbalyst (capturing carbon-rich blast furnace waste gas and converting it into bio-ethanol, which can then be used to make low-carbon chemical products) to capturing hydrogen-rich waste gases from the steelmaking process and injecting them into the blast furnace to reduce coal use. These effort-intensive investments result in considerable CO2 savings, which can be passed onto customers in the form of the steel industry’s first-ever certification scheme. CO2 savings are aggregated, independently assured, and then converted into XCarb green steel certificates using a conversion factor that represents the average CO2 intensity of integrated steelmaking in Europe. The scheme therefore provides customers with the opportunity to buy certificates attached to their physical orders of steel, enabling them to report a reduction in their Scope 3 carbon emissions in accordance with the GHG Protocol Corporate Accounting and Reporting Standard. The company anticipates it will have 600,000 tonnes of equivalent green steel tonnes available by the end of 2022.

XCarb Recycled & Renewably Produced - XCarb recycled and renewably produced’ has been designed for products made via the Electric Arc Furnace route using scrap steel. Recycled and renewably produced means that the steel was made with scrap using renewable electricity, giving it an extremely low CO2 footprint that can be as low as approximately 300kg of CO2 per tonne of finished steel when the metallics are 100% scrap. This customer offer is for both flat and long products. The electricity used in the steelmaking process is independently verified, with a Guarantee of Origin given that it is from renewable sources.

XCarb Innovation Fund - ArcelorMittal has launched an innovation fund which will invest up to USD 100 million annually in ground breaking companies developing pioneering or breakthrough technologies that will accelerate the steel industry’s transition to carbon neutral steelmaking. To be eligible for funding, companies will have to be developing technologies which support ArcelorMittal on its journey to decarbonise. The technology also needs to be commercially scalable. For further detail refer to the separate press release the company has issued today.

ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 17 countries. In 2020, ArcelorMittal had revenues of USD 53.3 billion and crude steel production of 71.5 million tonnes, while iron ore production reached 58.0 million tonnes. Our goal is to help build a better world with smarter steels.

No stories found.
SteelGuru Business News
www.steelguru.com