ArcelorMittal’s AGM: Shareholders must vote against strategic routine resolutions

Reclaim Finance is calling on ArcelorMittal shareholders to escalate engagement at the 2025 AGM by voting against management-proposed resolutions. The organization argues that the company is backtracking on climate goals, delaying direct reduced iron (DRI) projects, and allocating insufficient capital to decarbonization, with only US$0.3-0.4 billion of planned 2025 capital expenditures dedicated to such projects.

• ArcelorMittal has failed to make a final investment decision on any of the five large-scale direct reduced iron (DRI) projects it announced earlier in the decade, which were intended to replace coal-based blast furnaces in Belgium, Canada, France, Germany, and Spain.
• The company's planned capital expenditures for 2025 show a significant lack of investment in decarbonization, with only US$0.3-0.4 billion allocated out of a total of US$4.5-5 billion.
• ArcelorMittal's reported 50% reduction in absolute emissions is attributed to shrinking operations rather than a transition to cleaner production, while its emissions intensity remains above the industry average.
• The company is using claims that green hydrogen DRI and Carbon Capture and Storage (CCS) will not be economically viable before 2030 to justify revising and walking back its 2030 carbon intensity targets.

APA

Manickawasagar, A. (2025). ArcelorMittal’s AGM: Shareholders must vote against strategic routine resolutions. Reclaim Finance. https://reclaimfinance.org/site/en/2025/04/23/arcelormittals-agm-shareholders-must-vote-against-strategic-routine-resolutions/

Chicago

Manickawasagar, Aatiraï. ArcelorMittal’s AGM: Shareholders must vote against strategic routine resolutions. Reclaim Finance, 2025. https://reclaimfinance.org/site/en/2025/04/23/arcelormittals-agm-shareholders-must-vote-against-strategic-routine-resolutions/.

Wikipedia

{{cite press release |last1=Manickawasagar |first1=Aatiraï |title=ArcelorMittal’s AGM: Shareholders must vote against strategic routine resolutions |publisher=Reclaim Finance |date=23 April 2025 |url=https://reclaimfinance.org/site/en/2025/04/23/arcelormittals-agm-shareholders-must-vote-against-strategic-routine-resolutions/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{manickawasagar2025arcelormittals, author = {Manickawasagar, Aatiraï}, title = {{ArcelorMittal’s AGM: Shareholders must vote against strategic routine resolutions}}, publisher = {Reclaim Finance}, year = {2025}, month = apr, url = {https://reclaimfinance.org/site/en/2025/04/23/arcelormittals-agm-shareholders-must-vote-against-strategic-routine-resolutions/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }