US Steel said it will use its growing fleet of electric arc furnaces (EAF) in combination with other technologies such as DRI, carbon-free energy sources, and carbon capture, sequestration and utilization.
Achieving this goal depends on public-private partnerships between industries and global stakeholders to develop supportive innovative advances, including access to commercially available carbon neutral electricity, US Steel said.
“Climate change is a global crisis that requires a global response,” US Steel CEO David Berritt said in a statement. “Today, in announcing our goal of zero net, US Steel is committed to contributing to support the UN Paris Agreement on Climate Change to achieve global carbon neutrality by 2050.”
The zero-zero target builds on the company’s previously stated commitment to reduce greenhouse gas emissions by 20% globally by 2030.
US Steel has ceased to be the only manufacturer of blast furnaces as part of its “Best of Both” strategy. In January, the company closed its acquisition of the remaining stake in Big River Steel, adding an Arkansas-based mini sheet steel mill to its portfolio.
Along with the addition of the Big River mini-plant, US Steel launched its own newly built EAF in October 2020 at its Fairfield, Alabama plant.
“The company has already produced more than 14 grades of some of the most advanced high-strength steels at its Big River Steel subsidiary and is confident in its ability to use EAF and other advanced technologies to achieve significant carbon savings,” the company said.
According to the company, US Steel became the first North American steelmaker to join the international steel industry certification group ResponsibleSteel in April.
Steel and mining groups have focused on reducing Tier 1 and 2 emissions and providing Tier 3 benefits to users, as well as strengthening control over the production and supply of steel and raw materials to meet emission reduction standards and targets.
Steel is the second largest emitter of CO2 emissions in the world and the industry has faced difficulties in decarburization due to a greater reliance on coal for primary steel production, limited availability of ferrous scrap, and technical and economic constraints in commercial adaptation to low-cost alternatives. emission level.