FORT WAYNE,
Ind., Oct. 10, 2024 /PRNewswire/ -- Steel
Dynamics, Inc. (NASDAQ/GS: STLD) today announced certified,
science-based greenhouse gas (GHG) emissions intensity targets for
its steel mills. In alignment with the 1.5° C scenario set forth in
the Paris Agreement, Steel Dynamics set a 2050 emissions
intensity target of 0.12 metric tons of CO₂e per metric ton of hot
rolled steel produced. The company also set an interim 2030
emissions intensity target of 0.80 metric tons of CO₂e per metric
ton of hot rolled steel produced, representing a 15% reduction,
compared to the company's 2022 base year. These GHG emissions
targets were established using the Global Steel Climate Council's
(GSCC) Steel Climate Standard.
The GSCC provides science-based target
certifications that are aligned with the Paris Agreement's goals
and with the International Energy Agency's Net Zero by 2050: A
Roadmap for the Global Energy Sector. The GSCC's Steel
Climate Standard measures key steelmaking GHG emissions through
hot rolling including Scope 1, Scope 2, and upstream Scope 3
emissions categories. The company's announced science-based GHG
emissions intensity targets and 2022 base year data have been
verified by a third-party, KERAMIDA, and certified by the GSCC.
"Steel Dynamics is already a leader in producing
lower-carbon steel products," stated Mark
D. Millett, Chairman and Chief Executive Officer. "In 2023,
we achieved our previously announced 2025 GHG emissions intensity
and renewable electrical energy goals ahead of schedule. Even
though our emissions are already among the lowest in the industry,
we are committed to further reducing our carbon impact and have an
actionable path forward. As evidence of our dedication to this
ongoing effort, among other projects, we are investing in an over
$260 million biocarbon
production facility that we expect will further decrease our Scope
1 emissions by as much as 35%."
In 2023, the company began construction of the
biocarbon production facility located in Columbus, Mississippi. This biocarbon is a
renewable and sustainable source of carbon that will be used as a
replacement for anthracite in the company's steelmaking operations.
The facility is projected to begin commissioning in the first
quarter of 2025.
Additionally in 2023, the company signed the
largest renewable product purchase agreement for the steel industry
in North America, equivalent to
approximately 15% of the company's steel mills' electricity usage
in 2023. This wind energy center began commercial operation in the
first quarter of 2024. These initiatives represent meaningful steps
toward decarbonization.
As there is more to achieve, the company will
continue working to:
- Identify and implement GHG emissions reduction
projects,
- Improve energy management to reduce GHG emissions and
enhance operational efficiency,
- Increase the use of renewable and nuclear energy, including
partnering with utilities, and
- Research, develop, and implement innovative technologies.
"Steel is an integral component of the global
economy and foundational to the world's essential infrastructure.
Specifically, lower-carbon steel is necessary for the transition to
a lower-carbon global economy," said Millett. "With these new
targets and a proven track record of progress, we are demonstrating
our commitment to continue making the steel required for a
sustainable future."
For additional information on our science-based
GHG emissions intensity targets view the presentation on our
website at www.steeldynamics.com under "Sustainability –
Valuing the Environment."
About the Global Steel Climate
Council
GSCC is a non-profit organization that leads
efforts to reduce steel carbon emissions and encourages investments
in lower-carbon emission technology as part of the global effort to
decarbonize economies and societies. GSCC members are steel
manufacturers, associations and other organizations in the steel
supply chain that have a presence in 80+ countries around the
world.
For more information, please visit
GlobalSteelClimateCouncil.org.
About Steel Dynamics, Inc.
Steel
Dynamics is one of the largest domestic steel producers and metals
recyclers in North America, based
on estimated annual steelmaking and metals recycling capability,
with facilities located throughout the
United States, and in Mexico. Steel Dynamics produces steel
products, including hot roll, cold roll, and coated sheet steel,
structural steel beams and shapes, rail, engineered
special-bar-quality steel, cold finished steel, merchant bar
products, specialty steel sections, and steel joists and deck. In
addition, the company produces liquid pig iron and processes and
sells ferrous and nonferrous scrap.
Forward-Looking Statements
This
press release contains some predictive statements about future
events, including statements related to conditions in domestic or
global economies, conditions in steel, aluminum, and recycled
metals market places, our revenues, costs of purchased materials,
future profitability and earnings, the operation of new, existing
or planned facilities and decarbonization goals and sustainability
efforts. These statements, which we generally precede or accompany
by such typical conditional words as "anticipate", "intend",
"believe", "estimate", "plan", "seek", "project", or "expect", or
by the words "may", "will", or "should", are intended to be made as
"forward-looking", subject to many risks and uncertainties, within
the safe harbor protections of the Private Securities Litigation
Reform Act of 1995. These statements speak only as of this date and
are based upon information and assumptions, which we consider
reasonable as of this date, concerning our businesses and the
environments in which they operate. Such predictive statements are
not guarantees of future performance, and we undertake no duty to
update or revise any such statements. Some factors that could cause
such forward-looking statements to turn out differently than
anticipated include: (1) domestic and global economic factors; (2)
global steelmaking overcapacity and imports of steel, together with
increased scrap prices; (3) pandemics, epidemics, widespread
illness or other health issues; (4) the cyclical nature of the
steel industry and the industries we serve; (5) volatility and
major fluctuations in prices and availability of scrap metal, scrap
substitutes and supplies, and our potential inability to pass
higher costs on to our customers; (6) cost and availability of
electricity, natural gas, oil, and other energy resources are
subject to volatile market conditions; (7) increased environmental,
greenhouse gas emissions and sustainability considerations from our
customers or related regulations; (8) compliance with and changes
in environmental and remediation requirements; (9) significant
price and other forms of competition from other steel and aluminum
producers, scrap processors and alternative materials; (10)
availability of an adequate source of supply of scrap for our
metals recycling operations; (11) cybersecurity threats and risks
to the security of our sensitive data and information technology;
(12) the implementation of our growth strategy; (13) litigation and
legal compliance; (14) unexpected equipment downtime or shutdowns;
(15) governmental agencies may refuse to grant or renew some of our
licenses and permits required to operate our business; (16) our
senior unsecured credit facility contains, and any future financing
agreements may contain, restrictive covenants that may limit our
flexibility; and (17) the impacts of impairment charges.
More specifically, we refer you to our more
detailed explanation of these and other factors and risks that may
cause such predictive statements to turn out differently, as set
forth in our most recent Annual Report on Form 10-K under the
headings Special Note Regarding Forward-Looking Statements and Risk
Factors, in our Quarterly Reports on Form 10-Q, or in other reports
which we file with the Securities and Exchange Commission. These
reports are available publicly on the Securities and Exchange
Commission website, www.sec.gov, and on our
website, www.steeldynamics.com under "Investors – SEC
Filings."
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SOURCE Steel Dynamics, Inc.