Mittal commits to becoming carbon neutral by 2050

BRUSSELS, Sept 30 (Reuters): ArcelorMittal, the world's largest steelmaker, committed on Wednesday to being carbon neutral by 2050, although it said a level playing field with green border adjustments and abundant, affordable clean energy would be required to get there.

The company, which makes around 5.0 per cent of the world's steel, said last year it aimed to reduce carbon dioxide emissions by 30 per cent by 2030.

President and chief financial officer Aditya Mittal made the new commitment before speaking about the challenge of decarbonising steel at a conference. He said in a statement all regions of the world would have to contribute to achieve net zero carbon emissions by 2050.

"As the world's leading steel company, we believe we have a responsibility to lead the efforts to decarbonise the steel-making process, which today has a significant carbon footprint," he said.