U. S. Steel Issues 2022 ESG Report
Listen to this story:
Highlights the Essential Role of Steel inEnabling a More Sustainable Future
United States Steel Corporation issued its 2022 ESG Report titled, “Essential for our Future,” reaffirming its commitment to sustainable steelmaking and a greener economy. Steel is essential to enabling critical green technologies like wind turbines, solar fields, and electric vehicle motors. Moreover, sustainable steel can contribute towards lowering the greenhouse gas emissions of other products and industries. Steel stands out for its remarkable capability to be recycled infinitely without any loss of quality, demonstrating a nearly endless lifecycle once it has been produced. Recognizing this enduring utility, U. S. Steel is focused on reducing emissions in meaningful ways while delivering profitable, differentiated and sustainable steel solutions for customers and communities, people and planet.
“Every single employee is playing a role in creating a more sustainable future,” said David B. Burritt, U. S. Steel President & Chief Executive Officer. “Steel’s importance to our society is undeniable, both in the past and into the future as we collectively tackle climate change. It’s of particular significance that we were the first American steel company to set a goal of achieving net-zero greenhouse gas emissions by 2050.”
During 2022, the construction of U. S. Steel’s second sustainable mini mill at Big River Steel Works made great progress as the company’s transformation to lower-carbon steelmaking accelerates. Recognition of U. S. Steel’s actions toward it’s 2050 net-zero goal included the existing Big River Steel mill’s receipt of the first-ever ResponsibleSteel site certification for a North American steel facility, a global multistakeholder standard that requires the highest standards of environmental, social and governance performance across the supply chain.
Adding to the company’s green portfolio, and to meet the rising demand for electric vehicles and more efficient motors, U. S. Steel is investing in a non-grain oriented (NGO) electrical steel line. The company unveiled its new electrical steel product, InduX, which is set to begin production at Big River Steel in the summer of 2023. Big River Steel also produces U. S. Steel’s line of green steel called verdeX, which is manufactured with up to 70-80 percent fewer emissions than traditional, integrated-mill steel and has a recycled content of up to 90 percent, exemplifying steel’s extraordinary potential for high-end recyclability.
U. S. Steel made progress on advancing its supply chain sustainability programs, surpassing a $300 million spending goal on diverse suppliers by approximately 130 percent. In addition, 2022 marked its safest year on record, demonstrating the company’s continued commitment to 360° safety, emphasizing both physical and psychological aspects. Significant strides were also made in fostering diversity, equity and inclusion (DEI), building an environment where all employees feel welcome and can thrive. The company’s recent 2023 DEI Report provides detailed insights into these efforts.
“2022 was a crucial year in putting our ambitious ESG initiatives into action,” said Richard L. Fruehauf, U. S. Steel’s Chief Strategy and Sustainability Officer. “Strategy and sustainability are inextricably linked. Our Best for All strategy recognizes that what is good for the planet is also good for business, as we focus on producing profitable, sustainable steel solutions.”