Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 74

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 74
---
-zero transition. Climate is a key part of ESG governance that is causing a greater focus on and scrutiny of key performance data such as carbon emissions reduction. Investors are increasingly aligning their portfolios with the goals of the Paris Agreement, often using third-party ratings and proxies to do so. ArcelorMittal continues to engage with such initiatives to ensure that the challenges and opportunities of competitively transitioning multiple steelmaking assets across multiple regions into a low carbon economy are clearly

39

| Management report |

understood and that the approaches adopted are realistic and pragmatic. The Company is focused on engaging with numerous other important strategic initiatives that gather key stakeholders to identify the main challenges and requirements for the steel sector’s transition. These include the Energy Transition Commission (ETC), Industry Transition Accelerator (ITA), World Business Council for Sustainable Development (WBCSD), Organization for Economic Cooperation and Development (OECD), World Trade Organization (WTO), World Steel Association and ResponsibleSteel TM , amongst others. Enabling the transition of key sectors. Delivering low-carbon emissions steel solutions In March 2021, the Company launched XCarb®, which at the time was the only low-carbon emissions steel offering on the market. The two initial products were: • XCarb® green steel certificates. These agglomerate savings from interventions in the steelmaking process made specifically to reduce carbon emissions such as capturing coke-oven gas and re-injecting it into the blast furnace or reducing coal use through natural gas injection in the blast furnace. The savings are then passed on to customers alongside their physical steel purchases, enabling them to report an equivalent reduction in their Scope 3 emissions. • XCarb®RRP. This is a physical low-carbon emissions steel product made in an EAF powered entirely by renewable electricity, with high levels of recycled steel as the metallic input. The Company continues to lead the market with sales of XCarb® low-carbon emissions steel, which have a carbon footprint of as low as 300kg per tonne of steel produced. XCarb® sales increased from 0.2 million tonnes in 2023 to 0.4 million tonnes in 2024. The Sestao revamp project is expected to materially increase the Company’s ability to produce low- carbon emissions flat products. ArcelorMittal is also actively managing its product portfolio to ensure that it is well positioned to capture areas of growth, focusing on strategic higher value-added products. The Company is increasing its portfolio of climate solutions (electrical ste