Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

ArcelorMittal has launched a new brand called XCarb to sell its low carbon and carbon-neutral steel products and plans to produce around 600,000mt of green steel under this brand by the end of 2022.


The XCarb brand, which is a part of the company’s initiative to reach carbon neutrality by 2050, will be rolled out in three phases, the steelmaker said in a statement on Wednesday. 


In the first phase, the company plans to issue green steel certificates to companies that buy flat products under the XCarb brand, to enable them to report lower carbon emissions. 


In the second phase, the company will introduce the XCarb brand for EAF produced scrap metal products, while the third phase will include the rollout of the XCarb innovation fund where the company plans to set aside $100mn per year to help companies develop decarbonizing technologies for ArcelorMittal.

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