Italy-based Feralpi Group is among the first steel companies in Europe to receive approval for its 2030 CO2 emission reduction targets from the Science Based Targets Initiative (SBTi). The SBTi, a partnership between the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF), supports companies in setting emission reduction targets aligned with science to help limit global warming to 1.5°C.
Feralpi is committed to reducing its scope 1, 2, and 3 greenhouse gas emissions by 50 percent per metric ton of hot rolled steel by 2030, compared to 2022 levels. Additionally, the company aims to reduce scope 3 emissions from the purchase of goods and services, energy, transportation and distribution, waste, and processing of sold products by 25 percent.
To achieve these targets, Feralpi has developed a decarbonization plan that includes the use of renewable energy, biomethane, hydrogen, recycled raw materials, and rail transport for goods. The company has also planned significant investments in electrification and production cycle efficiency.
Giuseppe Pasini, president of Feralpi Group, emphasized the importance of corporate responsibility in reducing global emissions and the necessity of medium-term goals to create a concrete path towards decarbonization: “This is positive feedback not only for us but for all our stakeholders, as low-emission steel represents a value for the entire value chain and, more broadly, for the regions and communities in which we operate.”