Outokumpu aims to become a benchmark for the sustainable development of the stainless steel industry, is committed to more stringent environmental goals, and has established an environmental and social management (ESG) advisory committee.
Outokumpu updated its sustainable development strategy, aiming to become an industry benchmark for sustainable development. Outokumpu is committed to achieving the 1.5°C environmental protection target based on the initiative of the Science-Based Targets (SBT) organization, thus significantly raising its early set of 2°C environmental protection target. In addition, Outokumpu is establishing an ESG advisory committee to support its sustainable development work.
Heikki Malinen, President and CEO of Outokumpu, said: “With the commitment to the 1.5°C environmental protection target, we can not only help our customers achieve emission reductions, but also hope to set a benchmark for the sustainable development of the stainless steel industry in the future.”
“The new ESG Advisory Committee will be the most valuable organization. It will provide a comprehensive view of our sustainability from the outside world. Their expertise will also help Outokumpu set the goal of sustainability industry benchmarks, and Support our efforts to balance business needs with sustainable development.”
Outokumpu’s long-term environmental goals are to reduce its direct and indirect CO2 emissions and CO2 emissions in its supply chain (Scope 1, 2 and 3), and to achieve carbon neutrality by 2050. After achieving a 17% reduction in emissions before the end of last year, reduce CO2 emissions by 20% from the 2014-2016 baseline by 2023.
Outokumpu has reduced CO2 emissions by increasing the proportion of recycled steel scrap in stainless steel production to more than 90%. In addition, Outokumpu has increased the proportion of low-carbon electricity in energy consumption, improved energy efficiency, and reduced transportation emissions.
Outokumpu is the world’s first stainless steel producer dedicated to the SBT program. Since 2016, Outokumpu has become a member of this organization.
Post time: May-12-2021