ArcelorMittal, the world’s leading integrated steel and mining company headquartered in Luxembourg, today published its 2018 integrated annual review.
The review has outlined ArcelorMittal's progress in its four strategic priorities, namely improving its safety performance, achieving its financial targets, delivering on its Action 2020 strategic plan and integrating sustainability into the business.
Firstly, the 2018 edition of the review revealed further progress in safety performance, with a record low lost-time injury frequency rate of 0.69x. To achieve this, ArcelorMittal adopted an approach to improving safety performance by spotting potential risks and preventing the most serious accidents. It also mapped the UN sustainable development goals against those the company addresses through its approach to integrating sustainable development into the business.
In addition, the review outlined the steps the company is taking to address the carbon challenge, as well as how it is developing a broad range of technologies to enable it to transition to low-emissions steelmaking and support the objectives of the 2015 Paris agreement. Indeed, ArcelorMittal is developing a corporate action plan for carbon reduction which will support a new group-wide 2030 target, to be announced next year. It also plans to publish a detailed Climate Action report in the coming weeks.
Concerning value creation for stakeholders in 2018, ArcelorMittal boasted a $4.8 billion total tax contribution and it allocated $652 million to environmental and energy capital projects. The company also saw a 7% reduction in dust emissions per tonne of steel over three years and a corresponding reduction in NOx of 6% and it avoided 10 million tonnes of CO2 due to the re-use of blast furnace slag in the cement industry.
Finally, as outlined in the review, ArcelorMittal filed 70 new patents and launched 26 new products aimed at creating sustainable development value with a further 38 R&D projects for sustainable development in the pipeline. The company similarly made it into the Bloomberg gender diversity index in 2018.
The full review can be consulted at https://annualreview2018.arcelormittal.com/.
