United States Steel Corporation Announces Goal to Achieve Carbon Neutrality by 2050
April 21 2021 - 8:30AM
Business Wire
United States Steel Corporation (NYSE: X) (“U. S. Steel”) today
expanded its transformational commitment to sustainability by
setting an ambitious goal targeting net-zero carbon emissions by
2050.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210421005580/en/
To achieve its net-zero goal for 2050, U. S. Steel expects to
leverage its growing fleet of electric arc furnaces (EAF) coupled
with other technologies such as direct reduced iron, carbon-free
energy sources, and carbon capture, sequestration, and utilization.
Achievement of the goal also depends on public-private
collaboration across industries and global stakeholders to develop
supportive innovative breakthroughs, including access to
commercially available carbon-neutral electricity sources.
“Climate change is a global crisis that requires a global
response. Today, by announcing our net-zero goal, U. S. Steel is
committing to doing our part to support the U.N. Paris Agreement on
climate change to achieve global carbon neutrality by 2050.” said
U. S. Steel President and Chief Executive Officer David B. Burritt.
“With our 120-year history of innovating to solve any challenge, U.
S. Steel intends to be a part of the climate solution.”
Burritt continued, “We are dedicated to producing the steels
that are essential to our daily lives and innovating to solve the
challenges our customers face. Climate change is the challenge of
this generation and doing our part is a core component of our ‘Best
for All’ strategy for profitable growth. We believe that we have a
path forward that allows us to profitably produce sustainable
steels well into the future, and we know that when businesses,
governments and people work together to improve our shared destiny,
transformative innovations can follow.”
The net-zero ambition builds on U. S. Steel’s existing goal to
reduce greenhouse gas emissions intensity by 20% across the
company’s global footprint by 2030. It follows the company’s
acquisition of technologically advanced Big River Steel, the only
LEED® certified steel mill in the United States.
Last month, at Ceres 2021, the company introduced a new
sustainable steel product line, verdeX™. This month, U. S. Steel
became the first steel company based in North America to join
ResponsibleSteel™.
In addition, U. S. Steel Senior Vice President Richard L.
Fruehauf has been named Chief Strategy and Sustainability Officer.
This linkage of the company’s strategy and sustainability
priorities is designed to further integrate Scope 1 and 2
transitions with the company’s strategy. It also strengthens
support for customer and supplier implementation of their own
net-zero targets, to ensure process inputs and steel use conform to
net-zero.
Having already produced more than 14 grades of some of the most
advanced high strength steels at its Big River Steel subsidiary,
the company is confident in its ability to use EAFs and other
advanced technologies to achieve significant carbon emission
reductions.
With U. S. Steel’s sustainable steel product line, verdeX™,
customers will be able to secure advanced high strength steels
produced with only one-quarter of the carbon intensity currently
required for comparable products. More information on verdeX can be
found at www.ussteel.com. We’re open and ready to do business with
our customers and the verdeX line today. Call or come to our
website to see how you can integrate verdeX into your
sustainability plans.
More information on U. S. Steel’s emissions targets and
environmental efforts is available at
www.ussteel.com/sustainability/environmental/ghg. Additional
information on Scope 1 and Scope 2 can be found at
https://www.epa.gov/climateleadership/scope-1-and-scope-2-inventory-guidance.
Founded in 1901, the United States Steel Corporation is a
Fortune 250 company and a leading steel producer. Together with its
subsidiary Big River Steel and an unwavering focus on safety, the
company’s customer-centric Best of BothSM world-competitive
integrated and mini mill technology strategy is advancing a more
secure, sustainable future for U. S. Steel and its stakeholders.
With a renewed emphasis on innovation, U. S. Steel serves the
automotive, construction, appliance, energy, containers and
packaging industries with high value-added steel products such as
U. S. Steel’s proprietary XG3™ advanced high-strength steel. The
company also maintains competitively advantaged iron ore production
and has an annual raw steelmaking capability of 26.2 million net
tons. U. S. Steel is headquartered in Pittsburgh, Pennsylvania,
with world-class operations across the United States and in Central
Europe. For more information, please visit www.ussteel.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210421005580/en/
John O. Ambler Vice President Corporate Communications T – (412)
433-2407 E – joambler@uss.com
Kevin Lewis Vice President Investor Relations T – (412) 433-6935
E – klewis@uss.com
US Steel (NYSE:X)
Historical Stock Chart
From Mar 2024 to Apr 2024
US Steel (NYSE:X)
Historical Stock Chart
From Apr 2023 to Apr 2024