United States Steel Corporation Commits To Reduce Greenhouse Gas Emissions Intensity By 20%
November 13 2019 - 04:15PM
United States Steel Corporation (NYSE: X) today took another step
in the execution of its strategy to become the “best of both” in
the steel industry with the announcement of its plans to reduce
greenhouse gas emissions intensity across its global
footprint. The company has set a goal to reduce its global
greenhouse gas emissions intensity by 20 percent, as measured by
the rate of carbon dioxide (CO2) equivalents emitted per ton of
finished steel shipped, by 2030 based on 2018 baseline levels. This
target will apply to U. S. Steel’s global operations.
“Committing to a global greenhouse gas intensity reduction
target is central to U. S. Steel’s strategy to become a
world-competitive ‘best of both’ integrated and mini mill steel
company,” said U. S. Steel President and Chief Executive Officer
David B. Burritt. “These reductions will be equivalent to the
amount of CO2 being generated by more than 850,000 average-sized
homes each year. By creating targeted carbon reduction initiatives
to accelerate our transformation toward a future of sustainable
steel, we create value for all stakeholders.”
U. S. Steel’s greenhouse gas emissions intensity reduction goal
will be achieved through execution of multiple initiatives.
These include the development of electric arc furnace steelmaking
at U. S. Steel’s Fairfield Works and at Big River Steel, the first
LEED-certified steel mill in the nation, in which U. S. Steel
recently acquired a minority interest with an option to acquire the
remainder over the next four years. Electric arc furnace
steelmaking relies on scrap recycling to produce new steel
products, capitalizing on steel’s status as the most recycled
material on earth. Further carbon intensity reductions are
expected to come from the company’s introduction of
state-of-the-art endless rolling and casting technology and
construction of a cogeneration facility at its Mon Valley Works
announced in May, as well as implementation of ongoing energy
efficiency measures, continued use of renewable energy sources and
other process improvements.
Kevin Zeik, Ph.D., senior research fellow of innovation at U. S.
Steel said: “The carbon intensity reduction target announced today
reflects our commitment to continuous improvement in production
efficiency and builds on our industry-leading XG3™ advanced
high-strength steel. This technology enables automakers to
manufacture lighter weight vehicles that meet federal Corporate
Average Fuel Economy (CAFE) standards with reduced carbon
emissions. As part of our innovation efforts, we continue to look
at new steelmaking technologies including those that can further
reduce carbon emissions as those technologies mature.”
Forward-Looking Statements
This press release contains information that may constitute
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. We intend the
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements in those sections.
Generally, we have identified such forward-looking statements by
using the words “believe,” “expect,” “intend,” “estimate,”
“anticipate,” “project,” “target,” “forecast,” “aim,” “should,”
“will” and similar expressions or by using future dates in
connection with any discussion of, among other things, operating
performance, trends, events or developments that we expect or
anticipate will occur in the future, U. S. Steel’s future ability
or plans to take ownership of the Big River Steel joint venture as
a wholly owned subsidiary, and statements expressing general views
about future operating results. However, the absence of these
words or similar expressions does not mean that a statement is not
forward-looking. Forward-looking statements are not
historical facts, but instead represent only the Company’s beliefs
regarding future events, many of which, by their nature, are
inherently uncertain and outside of the Company’s control. It
is possible that the Company’s actual results may differ, possibly
materially, from the anticipated results indicated in these
forward-looking statements. Management believes that these
forward-looking statements are reasonable as of the time
made. However, caution should be taken not to place undue
reliance on any such forward-looking statements because such
statements speak only as of the date when made. Our Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law. In
addition, forward-looking statements are subject to certain risks
and uncertainties that could cause actual results to differ
materially from our Company's historical experience and our present
expectations or projections. For more information on
additional potential risk factors, please review U. S. Steel’s
filings with the SEC, including, but not limited to, U. S. Steel’s
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its
Current Reports on Form 8-K.
United States Steel Corporation, headquartered in Pittsburgh,
Pa., is a leading integrated steel producer and Fortune 250 company
with major operations in the United States and Central
Europe. For more information about U. S. Steel, please visit
www.ussteel.com.
CONTACTS: |
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Amanda Malkowski Public Affairs Rep.Corporate CommunicationsT –
(412) 433-2512E – almalkowski@uss.com |
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Kevin Lewis General ManagerInvestor RelationsT – (412) 433-6935E –
klewis@uss.com |
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