ArcelorMittal has once again been recognised by CDP for its strong performance in corporate transparency and action on climate change. ArcelorMittal successfully retained its A- score in the 2020 CDP Climate Change assessment, putting the company within the top quartile of all metal smelting, refining and forming companies and the top 10% of the steel industry. ArcelorMittal’s A- grade is testament to the company’s efforts and contributions towards building a thriving economy that works for people and the planet in the long term. The grade compares favourably to the global average D grade for metal smelting, refining and forming companies, and C grade for the steel sector specifically. ArcelorMittal’s efforts are further reflected in the A grade scores achieved for governance, disclosure of climate related financial risk and opportunities, strategy and planning and emissions reduction initiatives.
Earlier this year, the company announced a group-wide commitment to becoming carbon neutral by 2050, while it is targeting a reduction of 30% by 2030 in its European business. ArcelorMittal recognises the important role of disclosing climate related financial risks and opportunities in achieving this goal, as well as developing the company’s two low-emissions technology pathways, Smart Carbon and Innovative DRI.
CDP, a not for profit charity that runs a global disclosure system for investors, companies, cities, states and regions, scores thousands of companies which disclose climate data through its platform each year. By doing so, the competitive spirit of business to raise ambition and spur action on corporate climate action is harnessed for positive change