Energy Efficiency, GHG Emissions, Industrial - November 14, 2023
Nucor Sets 2050 Goals
Nucor Corporation announced net-zero, science-based greenhouse gas (GHG) targets for 2050 and established a new interim target for 2030.
These GHG intensity targets are defined by the Global Steel Climate Council's (GSCC) Steel Climate Standard.
Nucor will achieve its goals by increasing the use of clean electricity, carbon capture and sequestration, and near-zero GHG iron making. Nucor will also utilize technologies to reduce its consumption of injection and charge carbon and will reduce the use of natural gas in its production processes.
The company’s net-zero 2050 and interim 2030 targets include Scopes 1, 2 and 3 emissions from the production of hot rolled steel as defined by the GSCC. These new targets are more ambitious than Nucor's previous target of a 35% reduction in steel mill Scope 1 and 2 GHG intensity by 2030 using 2015 as a baseline, which was announced in 2021.
"We are the North American leader in sustainable steelmaking, and these targets further highlight our leadership role in developing clean solutions for the entire steel industry, as well as empowering our customers to meet their business and environmental goals successfully," said Leon Topalian, Chair, President and CEO of Nucor, in a statement. "In recent years, we have made purposeful investments to increase the availability of carbon-free electricity, and to support other emerging technologies that will help lead the way to a clean industrial future."
The company's circular production process uses an average of nearly 80% recycled scrap and has one-third the GHG emissions intensity compared to the average traditional extractive steelmaking process using a blast furnace.
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