Severstal commits to cutting its carbon emissions by 3% by 2023 and almost doubles its target for reducing total atmospheric emissions

Severstal announces a public target to cut its greenhouse gas emissions intensity by 3% over the next three years compared with 2020 . It is the first stage of a longer-term strategy to reduce its carbon footprint and increase its contribution to meeting the goals set by the Paris Climate Agreement.

We have identified the following investment projects that should contribute most significantly to this target are: the construction of long-range wire mill 170, implementation of argon purging of metal in a steel casting ladle from production to casting, increasing the share of sintering ore from Yakovlevskiy Mine in sintering mix, the reconstruction of the solid fuel unit Sinter plant 2 as well as the launch of top-pressure recovery turbines #16 & #25.

In addition, Severstal has revised and upgraded its total atmospheric emissions reduction targets for 2025. Following the Company’s decision to fit new gas cleaning equipment at the Cherepovets Steel Mill’s sinter processing plant, Severstal now expects to reduce its total atmospheric emissions by 13% (66,500 tonnes) against 2017 levels, compared with the previously announced target of 7%.

Alexander Shevelev, CEO of Severstal, commented:

“Severstal recognises the urgency for the steel industry to reduce its direct and indirect emissions and contribute towards the goals of the Paris Climate Agreement and is wholly committed to showing leadership in reducing its own climate contribution. For this reason, we continue to challenge ourselves to achieve more in this area.

The three-year GHG emissions intensity reduction target we have set is underpinned by detailed programmes and a roadmap of specific investment projects giving our stakeholders confidence that the 3% reduction is a near-term commitment rather than an abstract promise.

It is important to note that as a vertically-integrated company, we control and bear responsibility for emissions at every stage of our production chain – from the extraction of raw materials to the development of finished products.”

In the first half of 2020, Severstal has already invested 1.34 billion roubles in environmental initiatives, compared with approximately 750 million roubles in the full year 2019.