ArcelorMittal Seeks Responsible Steel Certification for European Flat Products Sites

Date : 11/26/2019 @ 3:01PM
Source : Dow Jones News
Stock : Arcelor Mittal New (MT)
Quote : 9.33  0.0 (0.00%) @ 1:00AM

ArcelorMittal Seeks Responsible Steel Certification for European Flat Products Sites

ArcelorMittal (EU:MT)
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By Maitane Sardon

 

ArcelorMittal (MT.AE) said Tuesday that it aims to secure a responsible steel certification for all its sites in Europe that produce flat steel.

The move comes as the steel sector--which is responsible for up to 9% of global emissions, according to the International Energy Agency--faces growing pressure to reduce its carbon and social footprint.

The Luxembourg-based steelmaker said it will roll out a 12-month program that will enable each site to prove that its production processes meet certain standards across social, environmental and governance criteria.

To be awarded with a responsible steel certification, ArcelorMittal said each site will undergo a third-party audit and an independent certification committee will make the final decision.

The standard is based on 12 principles with a variety of underlying requirements aimed at improving steel production's impact on climate change and emissions, water and biodiversity, human rights and community relations.

"Responsible production techniques and high ethical and business standards have become increasingly important to our customers and consumers," said Geert Van Poelvoorde, CEO at ArcelorMittal Europe Flat Products.

The company's sites in Belgium, Germany, Spain and France will be the first to be audited, it said, adding that it plans to include other sites in the program after the initial phase.

 

Write to Maitane Sardon at maitane.sardon@wsj.com

 

(END) Dow Jones Newswires

November 26, 2019 09:46 ET (14:46 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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