Cleveland-Cliffs Announces Commitment to Reduce Greenhouse Gas Emissions by 25 Percent by 2030
January 28 2021 - 5:00AM
Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) announced today that it
has set a target to reduce its greenhouse gas emissions by 25
percent by 2030. This goal represents combined Scope 1 (direct) and
Scope 2 (indirect) greenhouse gas emission reductions on a mass
basis (metric tons per year) compared with 2017 baseline levels.
The Company has published a detailed plan outlining its strategic
priorities on its corporate website at www.clevelandcliffs.com.
Lourenco Goncalves, Chairman, President and Chief Executive
Officer said, “We at Cleveland-Cliffs acknowledge that one of the
most important issues impacting our planet is climate change. The
American steel industry is one of the cleanest and most energy
efficient in the world, and therefore the utilization of steel Made
in the USA is a decisively positive move to protect the planet
against massive pollution embedded in the steel produced in other
countries.”
Mr. Goncalves added: “In the past year Cleveland-Cliffs has
transformed itself into the largest flat-rolled steel producer in
North America. As a company currently employing more than 25,000
people, the vast majority of them in good paying middle-class union
jobs, our commitment to operating our business in an
environmentally and socially responsible manner remains our
priority. As we continue to grow the company going forward, we will
vigorously pursue the opportunities we have outlined in our
Greenhouse Gas Reduction Commitment, and will be transparent with
our stakeholders by regularly reporting on our progress.”
Cleveland-Cliffs’ plan is based on its execution of the
following five strategic priorities:
- Developing domestically sourced, high quality iron ore
feedstock and utilizing natural gas in the production of hot
briquetted iron (HBI);
- Implementing energy efficiency and green energy projects;
- Investing in the development of carbon capture technology;
- Enhancing our greenhouse gas emissions transparency and
sustainability focus; and
- Supporting public policies that facilitate carbon reduction in
the domestic steel industry
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is the largest flat-rolled steel producer in
North America. Founded in 1847 as a mine operator, Cliffs also is
the largest supplier of iron ore pellets in North America. In 2020,
Cleveland-Cliffs acquired two major steelmakers, AK Steel
Corporation and ArcelorMittal USA LLC, vertically integrating its
legacy iron ore business with quality-focused steel production and
emphasis on the automotive end market. Cleveland-Cliffs’ fully
integrated portfolio includes custom-made pellets and Hot
Briquetted Iron (HBI); flat-rolled carbon steel, stainless,
electrical, plate, tin and long steel products; as well as carbon
and stainless steel tubing, hot and cold stamping and tooling.
Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs
approximately 25,000 people across its mining, steel and downstream
manufacturing operations in the United States and Canada. For more
information, visit www.clevelandcliffs.com.
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