Cleveland-Cliffs Inc. (NYSE: CLF), the largest flat-rolled steel producer in North America and an SFIA member, announced the release of its comprehensive Sustainability Report 2021. The report was developed with reference to the Global Reporting Initiative Standards and the Sustainability Accounting Standards Board Standards, and references important tenets of the Task Force on Climate-related Financial Disclosures.
“Cleveland-Cliffs has built a strong legacy of sustainable business practices,” says Lourenco Goncalves, Cleveland-Cliffs’ Chairman, President and Chief Executive Officer. “As we transformed into the largest flat-rolled steel company in North America, this has been the foundation for integrating our standards across our newly acquired operations.”
The report was developed with reference to the Global Reporting Initiative Standards and the Sustainability Accounting Standards Board Standards.
Sustainability Report Highlights Accomplishments and Commitments
The following sustainability accomplishments and commitments are highlighted in the 2021 report:
- Increased consumption of scrap and success of using hot briquetted iron (HBI) in its furnaces to reduce coke rate, enhance productivity and quality, stretch hot metal production, which led to an overall reduction in carbon intensity per ton in 2021
- Importance of its Ferrous Processing and Trading Company (FPT) acquisition in securing substantial prime scrap to create a closed-loop steel recycling program
- Partnership with the U.S. Department of Energy for emissions reduction and energy efficiency initiatives
- Need for Cleveland-Cliffs’ U.S. produced specialty and electrical steels that are critical to the greening of America
- Continued focus on talent management and union partnerships to train and develop the next generation of steel workers
- Commitment to engaging with its stakeholders and communities to foster two-way dialogue
- Giving back to local communities through The Cleveland-Cliffs Foundation, corporate charitable giving and employee-driven giving
Cleveland-Cliffs Celebrates 175 Year Milestone
On May 3, 2022, Cleveland-Cliffs celebrated the company’s 175th year anniversary with the ringing of the Closing Bell at the New York Stock Exchange.
“For nearly two centuries, Cleveland-Cliffs has been instrumental in building modern society in the United States through the domestic steel industry,” says Lourenco Goncalves. “Cleveland-Cliffs has achieved this through its resilience, innovation and constant reinvention which has kept the company relevant and adaptive to an ever-changing world for generations.”
Headquartered in Cleveland, Ohio and operating in the Great Lakes region since 1847, Cliffs went public on the New York Stock Exchange in 1960.
About Cleveland-Cliffs
Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cleveland-Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing.
Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 26,000 people across its operations in the United States and Canada.
For more information, visit clevelandcliffs.com
