Photo Credit: Steel Dynamics, Inc.
Steel Dynamics, Inc. (NASDAQ/GS: STLD), one of the largest domestic steel producers and metals recyclers in the United States and a member of the SFIA, has set a goal for their EAF or electric arc furnace steel mill operations to be carbon neutral by 2050.
According to the company’s website, Steel Dynamics has set the following targets on its path to carbon neutrality:
- A 20% Scope 1 and Scope 2 combined greenhouse gas (GHG) emissions intensity reduction across its EAF steel mills by 2025
- A 50% reduction by 2030.
- Increase the use of renewable electrical energy for its EAF steel mills to 10% by 2025 and 30% by 2030
“Our commitment to all aspects of sustainability is embedded in our founding principles — valuing our teams, our partners, our communities, and our environment,” says Mark D. Millett, Chairman, president and chief executive officer.
“As evidence of our ongoing commitment, our Scope 1 and Scope 2 emissions are already among the lowest in the industry,” Millett says. “We are embarking on a path to carbon neutrality from a position of strength – and we are committed to the continued reduction of our environmental footprint.”
Recycled Content Important to Customers
In an interview with Recycling Today, Steel Dynamics’ Executive Vice President and Chief Financial Officer Theresa Wagler reports that the company uses 90% to 95% scrap to make its rebar and other long products.
The company has a growing presence in the flat-rolled steel market, with scrap making from 75% to 80% of the feedstock in that business unit. Maintaining and even increasing the recycled content of its steel is important not only to SDI but also to many of its customers, says Wagler.
In the construction, automotive and several other sectors, measuring carbon footprints and product life cycles has become standard, which is good news for Steel Dynamics, Wagler says.
“From the customer side, we are the recycled content,” she says. “We’re the decarbonization story already—today.”
“Our sustainability strategy is an ongoing journey, and we plan to use our entrepreneurial, innovative spirit to continue to be an industry leader, says Millett.
Download the Steel Dynamics 2020 Sustainability Report.
About Steel Dynamics, Inc.
Steel Dynamics is one of the largest domestic steel producers and metals recyclers in the United States, 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.
For more information, visit stld.steeldynamics.com
Additional Resources
- Steel Industry Pushes Toward Net-Zero Energy Target
- Steel Dynamics Opens $1.9 Billion Next Generation Mill in Texas
- SFIA Releases Industry Environmental Products Declaration for Cold-Formed Steel Framing