Cleveland-Cliffs Sets New Greenhouse Gas Emissions Reduction Targets

(RTTNews) - Cleveland-Cliffs (CLF) has set new greenhouse gas emissions reduction targets. The company's prior commitment to reduce absolute Scope 1 and Scope 2 GHG emissions by 25% by 2030, relative to 2017 levels, has already been successfully achieved. The company said the GHG emissions reduction from 2023 to 2035 will be driven primarily by the Middletown, OH and Butler, PA projects. Cliffs' capex outlook remains unchanged.

New goals, relative to 2023 levels, are: to reduce Scope 1 and 2 GHG emissions intensity per metric ton of crude steel by 30% by 2035; to reduce material upstream Scope 3 GHG emissions intensity per metric ton of crude steel by 20% by 2035; and a long-term target aligned with the Paris Agreement's 1.5 degrees Celsius scenario to reduce Scope 1, 2 and material upstream 3 emissions intensity per metric ton of crude steel to near net zero by 2050.