U.S. Steel Publishes 2022 ESG Report
United States Steel Corporation, known as U.S. Steel, has released its 2022 Environmental, Social, and Governance (ESG) Report titled "Essential for our Future," reaffirming its commitment to sustainable steel production and a greener economy.
Steel plays a crucial role in facilitating key green technologies such as wind turbines, solar fields, and electric vehicle motors. Moreover, sustainable steel can contribute to reducing greenhouse gas (GHG) emissions across various industries.
One notable advantage of steel is its exceptional ability to be recycled endlessly without any loss of quality, showcasing its nearly infinite lifespan. Recognising this enduring utility, U.S. Steel is focused on making meaningful emissions reductions while providing profitable, innovative, and sustainable steel solutions for customers, communities, and the environment.
According to David B. Burritt, President and CEO of U.S. Steel, every employee plays a vital role in building a more sustainable future. Steel's importance to society is undeniable, both historically and as we collectively confront climate change. U.S. Steel takes particular pride in being the first American steel company to set a goal of achieving net-zero greenhouse gas emissions by 2050.
In 2022, U.S. Steel made significant progress in the construction of its second sustainable mini mill at Big River Steel Works as part of its accelerated transition to lower-carbon steel production. This commitment to sustainability was acknowledged with the existing Big River Steel mill receiving the first-ever ResponsibleSteel™ site certification for a North American steel facility. This global multistakeholder standard ensures the highest level of environmental, social, and governance performance throughout the supply chain.
Expanding its green portfolio to meet the growing demand for electric vehicles and more efficient motors, U.S. Steel is investing in a non-grain-oriented (NGO) electrical steel line.
The company has introduced its new electrical steel product, InduX™, which is set to commence production at Big River Steel in the summer of 2023. Additionally, Big River Steel produces U.S. Steel's eco-friendly steel line, verdeX®, which emits 70–80 per cent fewer emissions than traditional integrated-mill steel and contains up to 90 per cent recycled content, highlighting the remarkable recyclability of steel.
U.S. Steel has also made significant advancements in its supply chain sustainability programmes, surpassing its goal of spending $300 million on diverse suppliers by approximately 130 per cent.
Furthermore, 2022 marked the safest year on record for the company, demonstrating its ongoing commitment to 360° safety, encompassing both physical and psychological well-being. Noteworthy progress has also been made in fostering diversity, equity, and inclusion (DEI), creating an inclusive environment where all employees are valued and can thrive. Detailed insights into these efforts can be found in the company's recent 2023 DEI Report.
Richard L. Fruehauf, U.S. Steel's Chief Strategy and Sustainability Officer, emphasised the significance of 2022 as a pivotal year for translating ambitious ESG initiatives into action. Strategy and sustainability are closely intertwined, with U.S. Steel's Best for All® strategy recognising that what benefits the planet is also advantageous for business as the company focuses on producing profitable and sustainable steel solutions.
To access the complete ESG Report, please click here.
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Source: BUSINESS WIRE