U.S. Steel releases ESG report

U.S. Steel releases ESG report

On June 13 local time, the United States Steel Corporation released an ESG (Environmental, Social and Governance) report entitled "Critical to Our Future." It underlined its commitment to sustainable steelmaking and green development.

The report notes that technologies that reduce greenhouse gas (GHG) emissions, such as renewable energy generation, transport, electrification and the hydrogen industry, are almost all dependent on the steel industry; In view of the characteristics of recycling with almost no loss of quality, steel can play an important role in the construction of circular economy. The average service life of steel is 40 years, many steel products can be recycled after reaching the service life, saving resources; The steel industry is constantly innovating products and processes, and 75% of the 3,500 types of steel in use today did not exist 20 years ago. Improvements in energy efficiency have reduced energy use in steel production by about 60% since the 1960s; The application of advanced high-strength steel reduces the impact on the environment; By 2050, global steel use will increase by about 20 percent from current levels.

U.S. Steel is the first steel company in the United States to set a goal of achieving net zero greenhouse gas emissions from its operations by 2050. In 2022, as U.S. Steel accelerates its transition to low-carbon steelmaking, the company is making progress on the construction of its second sustainable small mill at the Great River Specialty Steel Plant in the United States. In addition, to increase the company's green investments and meet the growing demand for electric vehicles and more efficient motors, U.S. Steel is investing in a grain non-oriented (NGO) electric steel production line. The company also announced a new electrical steel product, InduX, scheduled to begin production in the summer of 2023 at the Great River Specialty Steel Plant in the United States. Great River Specialty Steel also operates one of U.S. Steel's green steel production lines, called verdeX. Compared with the traditional production line, the green steel production line can reduce the emission of pollutants by 70% to 80% during the production process.

Source: China Metallurgical News Date: 2023-07-07