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GHG emissions targets set for 2030, 2019 to be baseline year EMSTEEL, formerly Emirates Steel Arkan, has unveiled its new decarbonisation strategy to reach net-zero emissions by 2050. The company aims to achieve a 40 percent reduction in absolute greenhouse gas (GHG) emissions in its steel business unit and a 30 percent reduction in its cement business unit by 2030, using 2019 as the baseline year, the company said in a statement filed on the Abu Dhabi stock exchange on Monday. In line with the UAE’s goal of a 27 percent reduction in industrial emissions by 2035 from 2019, the company’s decarbonisation strategy includes enhancing energy efficiency, incorporating advanced process optimisation technologies and utilising alternative fuels and raw materials in steel and cement production. Additionally, the steel producer expects to accelerate the use of clean and renewable energy to cover 100 percent of electricity demand by 2030. The steel and cement industries are among the most carbon-intensive sectors globally, generating a substantial share of GHG emissions. EMSTEEL said it has made substantial progress in reducing scope 1 and scope 2 emissions, as well as emissions intensity during 2019 and 2023. As of 2023, its total scope 1 and 2 emissions stood at 4.5 million tonnes of CO2, 23 percent below 2019. Additionally, the company and UAE renewable major Masdar jointly launched a pilot green hydrogen project, which leverages green hydrogen to extract iron from iron ore. |
