Our ambition for Carbon Neutral Steel by 2030
Our CN30 ambition is to develop profitable, resilient businesses that are carbon neutral by 2030
“It’s time to get serious about the environmental impact of producing steel.”
Sanjeev Gupta, Executive Chairman, GFG Alliance
The steel industry is facing a trilemma
Clearly, this is a conflict and fundamental change is needed.
With this in mind, we have announced our ambition to become carbon neutral by 2030 – or as we call it, CN30.
Our ambition to be carbon neutral by 2030 is bold and demands a major transition from a heavy polluting industry to a modern carbon-neutral future. Climate change won’t wait so we are committed to taking action now. We don’t have all the answers, but we have a realistic, measurable and manageable path forward that will allow us to transform our production methods swiftly, steadily and economically. To reinvent the industry we believe, steel producers, policymakers and the financial community need to work together to deliver real sustainable change.
Our plan to transition to GREENSTEEL
LIBERTY Steel produces steel across the globe through integrated steel facilities as well as recycled scrap based Electric Arc Furnaces (EAFs) -around 40% of our steel is produced through the EAF route. Using electricity, our EAFs manufacture steel products with a significantly lower carbon emission level – more than 60% less CO2 per tonne of steel – compared to those made by traditional steelmaking methods. Recycling scrap metal as the main feedstock into our EAFs allows us to use a local resource with a very low level of embedded carbon which further reduces emissions, saves on natural resources and diverts scrap from landfill.
To achieve our ambition to become a carbon-neutral steelmaker, we have to transition our business away from using BFs while we further reduce the carbon emissions of our EAFs through the use of renewable electrical energy.
LIBERTY Galati’s transformation plan to become a carbon-neutral GREENSTEEL supplier by 2030 will ensure the long-term economic, social, and environmental sustainability of our company so that we can reinvest profits and continue to provide high quality steel and jobs for future generations.