By Giulia Petroni 
 

ArcelorMittal said Wednesday that it pledges to become carbon neutral by 2050 and aims to make steel by using clean-energy technologies while maintaining its competitiveness in the industry.

The Luxembourg-based company said it sees hydrogen and circular carbon, carbon capture and utilization and carbon storage as the main routes to low-emissions steelmaking.

The commitment has been extended group-wide and builds on the company's previous goal to reduce emissions by 30% by 2030 at its European business and make that business carbon-neutral by 2050.

ArcelorMittal said it will set out further details in support of the net-zero target in its second climate action report, which is expected before the end of the year.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

September 30, 2020 03:59 ET (07:59 GMT)

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