Steel giant ArcelorMittal Group will continue to cut carbon emissions, promising to cut global carbon emissions by 25% by 2030 compared to 2018.
ArcelorMittal said it plans to build new direct reduced iron (DRI) green hydrogen plants and new arc furnaces in France. , Germany and Spain, so that by 2030
increase the supply of zero carbon and low carbon steel. ArcelorMittal previously launched XCarb, a new brand for all low-carbon technology initiatives, including the XCarb innovation fund, which invests in new technologies related to decarbonization in the steel industry.
While the investment required during the transition period will not generate sufficient returns, ArcelorMittal said low-carbon technologies need further development and improvement. During this period, political support is essential to reduce the burden of capital expenditures and ensure manufacturing competitiveness.
