Emirates Steel Arkan (ESA) showcased a resolute commitment to sustainability at COP28, spearheading innovative initiatives for carbon reduction and forging strategic alliances. Their agenda included advancing green steel projects with Masdar, collaborations with financial entities for carbon credit trading, and digitization partnerships. ESA's active engagement underscored its pursuit of a greener future in hard-to-abate sectors.
In a resounding testament to environmental stewardship, Emirates Steel Arkan (ESA) concluded 2023 with a resolute display of commitment at COP28, the world's premier assembly addressing climate change. Themed "Sustainable Decisions, Sustainable Future," ESA reiterated its pledge to drive decarbonization in challenging industrial sectors, leveraging transformative technologies and fostering collaborations.
Emirates Steel Arkan's proactive role at COP28 unfolded as a multifaceted effort. From cultivating strategic alliances to participating in illuminating panel discussions and showcasing groundbreaking low-carbon solutions, ESA stood as a vanguard in the global endeavor for meaningful emission reduction and tangible climate impact. Not only did this echo the UAE's vision and the COP28 Presidency's goals, but it also aligned with the nation's ambitious target of achieving climate neutrality by 2050.
The commitment extended beyond rhetoric, emphasizing the empowerment of youth for impactful climate action, mirroring the UAE's dedication to engaging young minds in addressing global challenges. ESA also solidified partnerships reinforcing its three-year digitization strategy, aiming to revolutionize business models with digital capabilities and curtail the Group's CO₂ footprint through energy-efficient technologies.
Aligned with their decarbonization roadmap, ESA's initiatives encompassed innovative approaches like carbon capture, green hydrogen integration, clean energy adoption, optimized scrap metal utilization, and heightened energy efficiency. Their ambitious goal aims for a 40% reduction in carbon emissions by 2030, culminating in a net-zero target by 2050. Already, ESA has achieved a remarkable 35% reduction in emissions intensity in 2022 through clean electricity sourcing and utilization of carbon capture and scrap metal.
Eng. Saeed Ghumran Al Remeithi, Group CEO of Emirates Steel Arkan, affirmed the Group's unwavering commitment, stating, "Emirates Steel Arkan will continue to play a pivotal role in safeguarding the planet. Sustainability is ingrained in our operations, policies, partnerships, and projects, aiming for a positive environmental impact and a sustainable future."
Emirates Steel Arkan's stalwart endeavors at COP28 underscore a paradigm shift in industry commitment towards sustainability. From groundbreaking green steel projects to strategic collaborations in finance and technology, ESA's proactive role stands as a beacon, charting the course for a greener, more resilient future. As the world grapples with climate challenges, ESA's initiatives serve as a clarion call for concerted efforts in decarbonizing industries, nurturing partnerships, and fostering sustainable practices.