Cleveland-Cliffs Releases Sustainability Report 2022, Achieving Significant Progress on ESG Performance

Strategic Insights -

Cleveland-Cliffs Inc., the largest flat-rolled steel producer in North America, has published its Sustainability Report 2022, detailing its continued progress on environmental, social, and governance (ESG) performance. The report highlights the company's efforts to reduce greenhouse gas (GHG) emissions, improve its sustainability ratings, and engage with local communities. Notably, Cleveland-Cliffs has achieved a 25% reduction in its Scope 1 and 2 GHG emissions in 2022, surpassing its 2030 goal.

Key Takeaways:

  • Cleveland-Cliffs' Scope 1 and 2 GHG emissions decreased by 25% in 2022, meeting its 2030 goal of reducing emissions by 25% from 2017 levels.
  • The company has optimized its asset footprint and raw material mix, particularly by using hot briquetted iron (HBI) in its blast furnaces.
  • Cleveland-Cliffs has negotiated new 4-year labor contracts with the United Steelworkers union, covering approximately 14,000 employees.
  • The company has partnered with the U.S. Department of Energy and other organizations to pursue industrial decarbonization through technologies such as carbon capture and hydrogen use.
  • Cleveland-Cliffs has improved its scoring and transparency on sustainability ratings platforms, including EcoVadis and CDP.
  • The company has enhanced its water and waste optimization systems for increased recycling and reuse.
  • Cleveland-Cliffs continues to engage with local communities, hosting open houses and family days, and has donated $7.4 million to local communities through The Cleveland-Cliffs Foundation.
  • The company's overall emissions intensity per ton of crude steel decreased in 2022.

Statistics:

  • Cleveland-Cliffs' Scope 1 and 2 GHG emissions decreased to 3.6 million metric tons in 2022, from 4.8 million metric tons in 2017.
  • The company has reduced its GHG emissions intensity per ton of crude steel by 13% in 2022 compared to 2017 levels.
  • Cleveland-Cliffs has a workforce of approximately 27,000 people across its operations in the United States and Canada.
  • The company has donated $7.4 million to local communities through The Cleveland-Cliffs Foundation in 2022.

Sources:

  • "Sustainability Report 2022" by Cleveland-Cliffs Inc.
  • Deloitte & Touche LLP, "Limited Assurance Report"
  • Cleveland-Cliffs Inc. Corporate Website (www.clevelandcliffs.com)
  • BusinessWire (https://www.businesswire.com/news/home/20230403005359/en/)