EMSTEEL announces comprehensive decarbonization strategy, aligned with the UAE's net-zero by 2050 strategic initiative
Abu Dhabi, UAE: EMSTEEL ('The Group', one of the GCC region's largest publicly traded steel and building materials manufacturers, today unveiled its ambitious decarbonization strategy. The company aims to achieve a 40% reduction in absolute greenhouse gas (GHG) emissions in its Steel Business Unit and a 30% reduction in its Cement Business Unit by 2030, using 2019 as the baseline year, with the ultimate goal of reaching net-zero emissions by 2050.
This strategy underscores EMSTEEL's commitment to sustainable manufacturing and aligns with the UAE's Net Zero by 2050 Strategic Initiative, the UAE's Nationally Determined Contribution (NDC 3.0), and the Paris Agreement. EMSTEEL is dedicated to driving industrial decarbonization in line with the UAE's goal of a 27% reduction in industrial emissions by 2035 from 2019 levels.
To achieve a significant reduction in its CO₂ footprint, the Group will focus on implementing key decarbonization strategies, including enhancing energy efficiency, incorporating advanced process optimization technologies and utilizing alternative fuels and raw materials in steel and cement production. Additionally, it is also expected to accelerate the use of clean and renewable energy to cover 100% of electricity demand by 2030.
Engineer Saeed Ghumran Al Remeithi, Group CEO – EMSTEEL, said: 'EMSTEEL is committed to leading the transformation of the construction and manufacturing sectors through sustainable practices. Our decarbonization strategy not only aligns with the UAE's Net Zero 2050 goals, but also positions EMSTEEL as a global leader in low-carbon steel and cement production. Through innovation, investment, and collaboration, we are building a more sustainable future for our industry and our planet.'
The steel and cement industries are among the most carbon-intensive sectors globally, generating a substantial share of GHG emissions. Acknowledging both the challenges and the significant social and economic benefits of successful decarbonization, EMSTEEL is committed to significantly reduce its Scope 1 and Scope 2 emissions in the coming years. The Group has already made substantial progress in reducing Scope 1 and Scope 2 emissions, as well as emissions intensity during 2019 and 2023. As of 2023 EMSTEEL's total Scope 1 and 2 emissions stood at 4.5 million tonnes of CO₂, which is 23% below the baseline year of 2019.
The above achievements have been driven by advancements in energy efficiency, the implementation of carbon capture technologies, and the integration of clean and renewable energy solutions. Additionally, the Group continues pioneering critical decarbonization technologies and has recently launched a groundbreaking pilot green hydrogen project—the first of its kind in the Middle East and North Africa—in collaboration with Masdar. This initiative leverages green hydrogen to extract iron from iron ore, marking a significant milestone in the region's journey toward sustainable steel production.
In September 2024, the EMSTEEL was appointed as Co-Chair of the Alliance for Industry Decarbonisation (AFID) led by the International Renewable Energy Agency (IRENA). EMSTEEL was also recognised as the 2024 Steel Sustainability Champion by the World Steel Association for its pioneering efforts in decarbonising steel production. The World Economic Forum recognised EMSTEEL for its outstanding efforts in decarbonising the iron and steel industry, placing it among the top five leading steel companies worldwide that have received this recognition. Finally, at the 'Make it in the Emirates Awards 2024', the Group's contributions to the UAE's industrial sector were recognised with the Best Sustainable Manufacturing Award and the ICV Excellence Award.
About EMSTEEL
EMSTEEL is a public joint stock company (ADX: EMSTEEL) and the UAE's largest steel and building materials manufacturer. The Group leverages cutting-edge technologies to supply both the local market and over 70 international markets with high-quality finished products, creating a one-stop shop for the manufacturing and construction sectors.
EMSTEEL is committed to contributing to the UAE's industrial strategy 'Operation 300 billion' by delivering market-leading products to support local industries, creating job opportunities for UAE Nationals, and enhancing its sustainable practices. The Group is a global leader in low-carbon steel production and is aligned with the UAE's Net Zero by 2050 Strategic Initiative.
Headquartered in Abu Dhabi, EMSTEEL operates 16 state-of-the-art plants, with a production capacity of 3.5 million tonnes of steel and 4.6 million tonnes of cement annually, fueling the nation's most iconic projects.
EMSTEEL is majority owned by ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy.
For more information, please visit our website: www.emsteel.com.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
ARN News Center
2 days ago
- ARN News Center
India's Modi says he's received invitation for G7 summit in Canada
India's Prime Minister Narendra Modi said he looked forward to meeting his Canadian counterpart Mark Carney during the Group of Seven summit, after the latter invited him to the gathering over a phone call on Friday. India is not a part of the grouping but can be invited as a guest to its annual gathering, which will be held this year in Kananaskis in the Canadian province of Alberta, from June 15-17. "Glad to receive a call from Prime Minister (Carney)...thanked him for the invitation to the G7 Summit in Kananaskis later this forward to our meeting at the Summit," Modi said in a post on X. The invitation suggests that both sides want to rebuild ties, which have nosedived in the last two years after Canada accused India of involvement undefined in a Sikh separatist leader's murder, and of attempting to interfere in the country's 2019 and 2021 elections. New Delhi denied both allegations. Modi also stated in his post that India and Canada would work together "with renewed vigour, guided by mutual respect and shared interests". India is Canada's 10th largest trading partner and Canada is the biggest exporter of pulses, including lentils, to India. Ottawa holds the rotational G7 presidency this year.
Dubai Eye
2 days ago
- Dubai Eye
India's Modi says he's received invitation for G7 summit in Canada
India's Prime Minister Narendra Modi said he looked forward to meeting his Canadian counterpart Mark Carney during the Group of Seven summit, after the latter invited him to the gathering over a phone call on Friday. India is not a part of the grouping but can be invited as a guest to its annual gathering, which will be held this year in Kananaskis in the Canadian province of Alberta, from June 15-17. "Glad to receive a call from Prime Minister (Carney)...thanked him for the invitation to the G7 Summit in Kananaskis later this forward to our meeting at the Summit," Modi said in a post on X. The invitation suggests that both sides want to rebuild ties, which have nosedived in the last two years after Canada accused India of involvement undefined in a Sikh separatist leader's murder, and of attempting to interfere in the country's 2019 and 2021 elections. New Delhi denied both allegations. Modi also stated in his post that India and Canada would work together "with renewed vigour, guided by mutual respect and shared interests". India is Canada's 10th largest trading partner and Canada is the biggest exporter of pulses, including lentils, to India. Ottawa holds the rotational G7 presidency this year.
Tourism Breaking News
3 days ago
- Tourism Breaking News
Oman hospitality sector welcomed 820,365 guests in 2024 : OMRAN
Post Views: 47 The Oman Tourism Development Company (OMRAN Group) announced that the hospitality sector welcomed 820,365 guests across its hotel portfolio in 2024 — a 6% increase compared to the previous year. The portfolio achieved an average occupancy rate of 45%, marking a 2.6% increase year-on-year. A major milestone was achieved with the official opening of JW Marriott Muscat, further enriching the luxury hospitality landscape in the Sultanate of Oman. As part of its efforts to position Oman as a premier luxury tourism destination on the global map and to attract the world's leading hospitality brands, OMRAN Group announced several strategic projects, most notably the Middle East's first Club Med Resort that will be developed in Musandam, and the signing of a strategic partnership with Santani Wellness Resorts to introduce wellness tourism in Al Dakhiliyah Governorate. The Oman Tourism Development Company (OMRAN Group) has announced strong financial and operational results, underscoring the Group's sustained efforts and corporate excellence in advancing tourism development and supporting sustainable economic growth in the Sultanate of Oman, in close collaboration with key stakeholders. In 2024, the Group recorded a net profit of OMR 25.2 million and total revenues exceeding OMR 58.3 million, reflecting operational efficiency and the high standards of excellence embraced across its business operations. These achievements were presented during the Group's recent Board of Directors meeting, where the Board reaffirmed its continued commitment to reinforcing the Group's role in advancing economic diversification and amplifying its impact as a key catalyst for tourism development and investment in the Sultanate. Demonstrating its ability to attract high-quality investments, OMRAN Group secured over OMR 156 million in Foreign Direct Investment (FDI) during 2024. This achievement aligns with Oman Vision 2040 and the national efforts to boost FDI inflows and enhance the contribution of various economic sectors to the GDP. Reinforcing its commitment to sustainability and local value creation, the Group achieved a 40% In-Country Value Index in 2024, with total spending exceeding OMR 19 million in support of SMEs, which accounted for 34.7% of overall procurement spending. Furthermore, the Group created 370 new job opportunities for local talents, achieving an Omanisation rate of 94% within Oman Tourism Development Company SAOC and 53% across the Group, highlighting its dedication to empowering national talent and supporting the local economy. In line with its vision to enhance corporate governance practices, OMRAN Group launched its Environmental, Social, and Governance (ESG) Framework during the year, reinforcing its commitment to global sustainability standards, transparency, and excellence across all its operations and projects. The positive results achieved by OMRAN Group in 2024 reaffirm its leading role as a catalyst for tourism development in the Sultanate of Oman. Through pioneering projects, strategic partnerships, and innovative initiatives, the Group continues to strengthen its position and contribute to Oman's journey towards a diversified and sustainable economy.
