As the world’s leading steel company, we are committed to leading our industry’s efforts to decarbonise, and to be part of the solution to the world reaching net-zero by 2050. In addition to our 2050 net-zero target, we have recently set a Group target of reducing our CO2e emissions intensity by 25% by 2030, and in our European operations, by 35% by 2030. These targets are deliberately the most ambitious of any steelmaker, reflecting our intent to drive meaningful decarbonisation progress this decade.

“If the world is to achieve net-zero by 2050, it will require all parts of the world to contribute. As the world’s leading steel company, we believe we have a responsibility to lead the efforts to decarbonise the steelmaking process.” - Aditya Mittal, CEO, ArcelorMittal

The assumptions on which our targets are based

The targets we have set are based on a number of assumptions:

  1. The cost of green hydrogen will become increasingly competitive over the next decade but will still require government support
  2. Carbon capture, utilisation and storage (CCUS) infrastructure will take time to be built at scale. While Europe is expected to take the lead, CCUS infrastructure has the potential to expand quickly in the US and Canada – providing some potential upside to our assumptions
  3. Different regions of the world will continue to move at very different paces and the level of climate ambition will differ between jurisdictions at any given time
  4. The introduction of climate-friendly policies in other regions will be 5-10 years behind Europe
  5. As it has been reported, 2060 may not be a realistic net-zero target for developing economies, which may mean emissions do not peak until 2030

The five levers to net-zero

Our roadmap features five 'levers' (groupings of actions and initiatives) that act as stepping stones to achieving carbon-neutrality by 2050:

Our decarbonisation roadmap 

The 2030-2050 waterfall chart displayed above is for illustrative purposes only - Climate Action Report 2 (2021)