SUSTAINABLE DEVELOPMENT | page 2 FINANCIAL HIGHLIGHTS | page 9
JV & ASSOCIATES INVESTMENTS | page 20 TRADE | page 24
MACRO HIGHLIGHTS | page 26
STEEL & IRON ORE INVESTMENTS | page 30
APPENDIX
2Q'21 and 1H'21 Financial Results and Strategic update, July 29, 2021
Sustainable Development
Sustainable development runs throughout our Company
Our purpose is to invent smarter steels for a better world
• Our10 Sustainable Development (SD) outcomes | • | Our innovations offer our customers solutions to enhance their |
provide a compass to describe the business we know | contribution to a low carbon and circular economy | |
we must become | • | Steligence enables architects and engineers to design |
• The Board's Appointments, Remuneration, Corporate | building solutions that minimise material use while maximising | |
Governance & Sustainability Committee oversees | space, flexibility and end of life recyclability | |
progress on SD, chaired by lead independent director | • | Our new S-inmotion® customizable chassis steel solutions |
• Our operations are underpinned by a programme of | enable carmakers to extend range and enhance safety at the | |
most affordable cost. | ||
independent ESG certification: Mines sites (AMMC and | ||
Liberia) to be IRMA certified by 2025; ArcelorMittal | • | Magnelis®offers enhanced corrosion resistance for solar |
Europe Flat Products plans to achieve full certification of | projects in harsh conditions, even in deserts and on water | |
all sites by the end of 2022 |
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Gender diversity: New target to double women in management to 25% by 2030
Diversity strategy launched to drive greater awareness and gender balance
Strategy
- Women make up higher % of our workforce vs industry peers
- New target to double % of women in our leadership positions
- Launch of new diversity strategy designed to:
- Raise awareness of the importance of greater diversity
- Build inclusive culture to support women's career progression
- Increase focus on female talent in recruitment
- Increase focus on gender balance in leadership positions
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Actions underway
- Aim to increase the focus on female talent in recruitment
- Active promotion of STEM* studies for young women; creation of entry opportunities for young women with STEM background
- Increase focus on gender balance in leadership positions of the organization (i.e. minimum 1 female successor in every senior management succession plan and organize Career Pathing for High Potential Women and actively support role models)
- Strengthen diversity and inclusion governance with the formation of a global Diversity Council to oversee the Group D&I performance and share good experiences in different locations
* STEM refers to science, technology, engineering and mathematics
Zero carbon-emissions steel needs policy to be competitive
Policy support and rising carbon prices need to work in tandem for ArcelorMittal to accelerate its decarbonisation
Policy support is vital for 1.5ºC alignment
- Companies need to make large scale investments and bear higher opex costs to reach 1.5ºC alignment
- Requires conditions to make low-emission steel as cost competitive as steel which is not
- Measures to encourage steelmakers to decarbonise e.g. Emissions Trading System (ETS), carbon tax
- A fair competitive landscape, e.g. Carbon Border Adjustment Mechanismm (CBAM)
- Public support to help innovation and long-term investments e.g. Contracts for difference
- Access to sufficient amounts of clean energy and infrastructure at affordable prices
- Incentives for consumers to adopt net zero steel in favour of business as usual
Where these are anticipated, ArcelorMittal plans to accelerate its decarbonisation projects
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ArcelorMittal SA published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 05:06:05 UTC.