ArcelorMittal commits to producing carbon neutral steel
ArcelorMittal has launched 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.
To support its launch, ArcelorMittal has announced three XCarb branded initiatives:
XCarb green steel certificates
ArcelorMittal is investing in a broad range of initiatives to reduce carbon emissions from the blast furnace. These initiatives range from its flagship Smart Carbon projects, 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 and renewably produced
'XCarb recycled and renewably produced' has been designed for products made via the Electric Arc Furnace (‘EAF') route using scrap steel. Recycled and renewably produced means that the physical steel was made with recycled material 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 percent 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 $100 million annually in groundbreaking 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 decarbonize. The technology also needs to be commercially scalable.