- U.S. Steel (NYSE:X) unveils plans to reduce greenhouse gas emissions intensity across its global footprint by 20% by 2030.
- The company says it plans to achieve its goal through multiple initiatives, including the development of electric arc furnace steelmaking at its Fairfield Works and at Big River Steel, the first LEED-certified steel mill in the U.S.
- Further carbon intensity reductions are expected to come from the company's introduction of state-of-the-art endless rolling and casting technology and construction of a cogeneration facility at its Mon Valley Works.
- The steel sector faces significant financial losses from future climate regulation, with the top steel manufacturers at risk of a potential loss of 14% of their value by 2040, according to a report earlier this year from CDP, a sustainable investing advocate.