Cleveland-Cliffs Issues Sustainability Report for 2023
03 April 2024 - 10:05PM
Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) announced today the
release of its Sustainability Report 2023. The Report informs about
Cleveland-Cliffs’ continued progress on environmental, social and
governance (ESG) performance for 2023, including its achievements
in reducing greenhouse gas (GHG) emissions and decarbonization
initiatives. It also includes a Limited Assurance Review issued by
Deloitte & Touche LLP.
The Sustainability Report 2023 details how Cleveland-Cliffs’
steel products help advance the transition to a low-carbon economy,
providing updates and highlights related to Cleveland-Cliffs’ most
important sustainability topics, including climate and GHG
emissions, water, waste, talent management, labor and community
relations, health and safety, and corporate governance. The Report
includes a Performance Metrics table that presents 3-year trended
data on a comprehensive set of sustainability metrics, as well as
Cliffs’ Statement of GHG Emissions, which discloses consolidated
Scope 1 and 2 GHG emissions data for 2023.
Lourenco Goncalves, Cleveland-Cliffs’ Chairman, President and
Chief Executive Officer said, “With our GHG emissions intensity 28%
better than the global steel industry average, Cleveland-Cliffs is
one of the cleanest and most energy-efficient blast furnace steel
producers in the world. Through our advancements in steelmaking by
the BF-BOF route, we supply our customers with lower carbon
intensive steel. We took a major step forward in 2023 and early
2024 in this endeavor by completing successful trials of hydrogen
injection into blast furnaces at our Middletown and Indiana Harbor
integrated steel mills.”
Mr. Goncalves continued, “As we grow, we continue to foster a
culture of safety and inclusion at Cliffs. I thank all our
employees, particularly our union workforce, for their continued
dedication to safe production.”
Cleveland-Cliffs proudly upholds its commitment to
sustainability as evidenced by the following highlights from the
2023 report:
- Continued downward trend of Cleveland-Cliffs’ Scope 1 and 2 GHG
emissions intensity per ton of crude steel (both company-wide and
integrated mill average);
- Specifically, Cleveland-Cliffs’ BF-BOF average emissions
intensity was reduced to 1.54 metric tons CO2e per metric ton of
crude steel produced (from 1.60 in 2022), a number 28% lower than
the 2023 global average of 2.15;
- Strengthened the Company’s partnerships with prominent labor
unions, including successfully negotiating new labor contracts
covering employees at numerous operations;
- Cultivated partnership with the U.S. Department of Energy and
other relevant organizations in successful pursuit of industrial
decarbonization projects through technologies such as hydrogen use,
electrification and direct reduction;
- Enhanced health and safety resources and employee engagement
programs to further support workers and operations;
- Continued engagement with local communities, including
expanding strategic partnerships and increasing charitable
donations and employee giving to total $7.5 million for 2023;
and
- Continued to improve scoring and transparency on sustainability
ratings platforms such as CDP, an international nonprofit
organization that manages the global disclosure system for
investors, companies, cities, states and regions to manage their
environmental impacts.
Cleveland-Cliffs’ Sustainability Report 2023 is accessible
online in the “Sustainability” section of the Company’s corporate
website, www.clevelandcliffs.com, where a printable PDF version of
the report is also available.
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is the largest flat-rolled steel producer in
North America. Founded in 1847 as a mine operator, Cliffs is also
the largest manufacturer of iron ore pellets in North America. The
Company is vertically integrated from mined raw materials, direct
reduced iron, and ferrous scrap to primary steelmaking and
downstream finishing, stamping, tooling, and tubing.
Cleveland-Cliffs is the largest supplier of steel to the automotive
industry in North America and serves a diverse range of other
markets due to its comprehensive offering of flat-rolled steel
products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs
employs approximately 28,000 people across its operations in the
United States and Canada.
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MEDIA CONTACTS: Patricia Persico Senior Director,
Corporate Communications (216) 694-5316
INVESTOR CONTACT: James Kerr Director, Investor Relations
(216) 694-7719
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