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At BlueScope, the way we work is as important as the work we do. We have a number of priority areas that we focus on within our ethics and governance framework. You can find some of our policies provided here.
With its strength, durability and recyclability, steel is one of the most useful and in-demand materials in the world and a critical foundation for sustainable economic development and the transition to a low carbon society.
At BlueScope, we understand the critical need to take action on climate and its importance to our business, our customers and communities. We also recognise that water is a scarce resource and that future supplies will be affected by population growth and climate change. Climate action is key to our purpose and is a core element of Our Strategy.
We’re committed to actively addressing climate change and investing in GHG emissions reduction to transform BlueScope for long term success. In the near to mid-term, we’re optimising current operating assets across our portfolio. For the longer term, we’re exploring and collaborating to pursue emerging technologies to work towards our 2050 net zero goal1.
We estimate our capital investment to support the delivery of decarbonisation initiatives will be between $300-$400 million by 2030.
Our decarbonisation pathway outlines the steps we 20Bet online live casinoplan to take to meet our 2030 GHG targets and net zero 2050 goal. We’re continuing to optimise current operating assets across our footprint, including energy and process efficiencies across our steel making assets, low carbon energy sources and increased scrap use. We’re also investigating accelerated technology developments in Direct Reduced Iron (DRI) using natural gas as a transitional pathway to using green hydrogen to produce lower emissions steel.
^^ The non-steelmaking target applies to our midstream activities that include our cold rolled, metal coating and painting lines and long products. It excludes our downstream activities.
^Applies to our Scope 1 and 2 emissions, relative to a 2018 baseline, across our midstream or non-steelmaking activities.
Enablers of steel decarbonisation
We acknowledge that achieving our 2050 net zero goal is highly dependent on several enablers including:
Firmed, affordable renewables
Access to internationally cost-competitive, firmed large-scale renewable energy.
Technology evolution
Development and diffusion of ironmaking technologies to viable and commercial scale.
Hydrogen and natural gas availability
Availability of competitively priced green hydrogen, with natural gas enabling the transition to green hydrogen.
Raw materials supply
Access to appropriate quality and sufficient quantities of economic raw materials.
Public policy
Supportive and consistent policies across all these enablers to underpin decarbonisation.
Decarbonisation in the iron and steel industry will require a range of perspectives and expertise, and partnerships across our value chain. We have formed numerous partnerships with industry leaders 20bet casino appto support in the decarbonisation of the steel industry, including our partnership with Rio Tinto and BHP to investigate developing Australia’s first ironmaking Electric Smelting Furnace (ESF) pilot plant.
We're actively exploring decarbonisation technologies and introducing technology upgrades within specific local context.
We are collaborating with some of the world’s largest steelmakers, including Tata Steel Europe, thyssenkrupp Steel Europe and POSCO, and Australian iron ore producers Rio Tinto and BHP, to develop the technology that can enable our decarbonisation pathway.
Additionally, our BlueScopeX™ investment fund is focused on small-scale, early-stage investment in steel decarbonisation and energy efficient buildings.
We seek to reduce the environmental impact of our products, including embodied carbon, in line with our decarbonisation commitments. The steel we supply today will support economies for decades to come and is critical to the transition in many sectors including the renewable energy industry.
We recognise that climate change is a material strategic issue for our business that requires clear accountabilities for oversight and implementation of our commitments. Climate change is integrated into our risk management framework – we evaluate and monitor the impact of climate-related risks across our business.
Our Board, with the assistance of its committees, oversees all climate-related matters, while day-to-day accountability rests with management. BlueScope’s Climate Change Council oversees the development and implementation of our climate strategy and associated work programs and provides input and recommendations to the 20bet casino loginExecutive Leadership Team, and the Board.
BlueScope is committed to transparent and responsible engagement with governments. This includes engagement to support and advocate for policies and regulations that encourage sustainable development and economic growth. Our government engagement activities are guided by Our Bond and our Political Contributions Standard. We actively participate in consultations and collaborate with industry associations to advocate for policies that align with our decarbonisation enablers, support the long-term interests of our business, and the broader industry.
Each year, we publish our Sustainability Report, which provides an update on how we are progressing against our climate strategy. We published BlueScope's first Climate Action Report in 2021 and our second Climate Action Report in 2024 to show the progress we’ve made in our climate strategy and decarbonisation pathway since 2021.
Our 2050 net zero goal Our goal is to pursue net zero Scope 1 and 2 GHG emissions across our business by 2050 and is contingent on five key enablers: technology evolution, raw materials supply, access to firmed renewable energy, natural gas enabling the transition to competitively priced green hydrogen, and supportive and consistent public policies.