US-based Steel Dynamics plans to become carbon neutral by 2050

Thursday, 08 July 2021 11:24:56 (GMT+3)   |   Istanbul

US-based Steel Dynamics has announced that it plans to become carbon neutral by 2050 for its electric arc furnace (EAF) steel mill operations. The company has set interim emissions reduction and renewable energy milestones to be achieved by 2025 and 2030.

Accordingly, Steel Dynamics targets a 20 percent Scope 1 and Scope 2 combined greenhouse gas emissions intensity reduction across its EAF steel mills by 2025 and a 50 percent reduction by 2030, compared to a 2018 baseline. The company also plans to increase the use of renewable energy for its EAF steel mills to 10 percent by 2025 and 30 percent by 2030.

“Steel is a vital resource in building a sustainable future. With these new targets and a proven track record of progress, we are demonstrating that steel must continue to play a critical role in the ‘green’ transition,” Mark D. Millett, chairman, president and CEO of the company, said.

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