AG ArcelorMittal : les actionnaires doivent voter contre l’acier à base de charbon

Reclaim Finance calls on ArcelorMittal shareholders to use the April 30, 2024, annual general meeting to oppose the company's continued investment in coal-based blast furnaces and its lack of a clear decarbonization strategy. The organization highlights that ArcelorMittal continues to extend the life of existing coal furnaces and invest in new ones, specifically in India via a joint venture with Nippon Steel. It further notes that less than half of the company's decarbonization projects can produce steel without fossil fuels, and expresses concern over the viability of green hydrogen projects in Europe due to cost. Reclaim Finance recommends that investors integrate climate concerns into routine strategic votes, including director re-election and executive remuneration, to hold management accountable for fossil-fuel-based plans.

• ArcelorMittal is continuing to invest in and maintain coal-dependent infrastructure, including the extension of existing blast furnaces and the development of new ones in India through a joint venture with Nippon Steel.
• An analysis by the Australasian Centre for Corporate Responsibility (ACCR) indicates that fewer than 50% of ArcelorMittal's decarbonization projects are capable of producing steel without using fossil energy, with some relying on carbon capture and storage technologies that are not yet proven at scale.
• There are doubts regarding the implementation of green hydrogen projects in Europe, as the company's director of European operations stated in February 2024 that green hydrogen is too expensive for European steelworks, despite the company receiving significant European subsidies for the technology.
• The company's climate strategy lacks transparency, specifically regarding how a planned $10 billion investment for its 2030 decarbonization goal will be allocated across different decarbonization levers.
• Reclaim Finance advises shareholders to use the 2024 general meeting to pressure the company by linking climate performance to votes on routine strategic resolutions, such as executive pay and the re-election of board members.

APA

Martin, L. (2024). AG ArcelorMittal : les actionnaires doivent voter contre l’acier à base de charbon. Reclaim Finance. https://reclaimfinance.org/site/2024/04/11/ag-darcelormittal-les-actionnaires-doivent-voter-contre-lacier-a-base-de-charbon/

Chicago

Martin, Léo. AG ArcelorMittal : les actionnaires doivent voter contre l’acier à base de charbon. Reclaim Finance, 2024. https://reclaimfinance.org/site/2024/04/11/ag-darcelormittal-les-actionnaires-doivent-voter-contre-lacier-a-base-de-charbon/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=AG ArcelorMittal : les actionnaires doivent voter contre l’acier à base de charbon |publisher=Reclaim Finance |date=11 April 2024 |url=https://reclaimfinance.org/site/2024/04/11/ag-darcelormittal-les-actionnaires-doivent-voter-contre-lacier-a-base-de-charbon/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2024arcelormittal, author = {Martin, Léo}, title = {{AG ArcelorMittal : les actionnaires doivent voter contre l’acier à base de charbon}}, publisher = {Reclaim Finance}, year = {2024}, month = apr, url = {https://reclaimfinance.org/site/2024/04/11/ag-darcelormittal-les-actionnaires-doivent-voter-contre-lacier-a-base-de-charbon/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }