EU GREEN STEELMAKING: ArcelorMittal announces three new initiatives to support net zero commitment

ArcelorMittal has launched three new initiatives that will help it meet its net zero commitment, including a $100 million per year investment fund to develop technology that will support and accelerate the transition to net zero carbon steelmaking, the company said on Wednesday March 17.

Innovation fund
The company aims to deliver on its net zero commitment by 2050 and the $100 million per year “XCarb innovation fund” is part of ArcelorMittal’s wider sustainability initiative launched to drive progress in carbon neutral steel.

The fund will support emerging companies that are “pioneering new potentially transformative technologies,” the ArcelorMittal said. To be eligible for funding, companies must be developing directly applicable, commercially scalable technologies that offer strong potential to decarbonize the steelmaking process. The fund will be governed by an investment committee comprising senior executive management members from functions and segments across the company’s global operations and chaired by the chief...


Carrie Bone

March 17, 2021

12:00 GMT