ABU DHABI, 12th October, 2023 (WAM) — Emirates Steel Arkan (ADX: EMSTEEL), one of the largest publicly traded steel and building materials manufacturers in the region, announced that it has become a member of “ResponsibleSteel” under the business category.
ResponsibleSteel is a global not-for-profit multistakeholder standard and certification initiative that serves as a driving force in the socially and environmentally responsible production of net-zero steel globally. The organisation provides certification for responsible steel products and advocates for responsible steel policies.
As a member, Emirates Steel Arkan will also collaborate with ResponsibleSteel to develop and implement best practices for responsible steel production and consumption, further demonstrating its commitment to address the various challenges faced by the industry.
Saeed Al Ghafri, CEO of Emirates Steel, an Emirates Steel Arkan company, said, “By joining ResponsibleSteel, Emirates Steel Arkan reiterates its dedication towards environmentally sound and socially responsible steel production and underscores the pivotal role of partnerships in driving lasting positive change. Collaborating with industry leaders to develop essential tools and policies, not only propels sustainable development within the steel ecosystem but also enables fostering a forward-thinking industry where shared expertise and collective efforts contribute to achieving a greener tomorrow.”
As a member of the Worldsteel Climate Action Programme and the Worldsteel Sustainability Charter, the company is dedicated to combatting climate change within the steel industry. Furthermore, its products align with stringent environmental standards, including compliance with the LEED Green Building rating system, the Abu Dhabi ESTIDAMA programme, and the Pearl Building Rating System.
Emirates Steel Arkan has also made significant commitments as a signatory of the UAE Climate-Responsible Companies Pledge and by signing the Real Estate Climate Pledge. These actions underscore the company’s ongoing commitment to sustainability and responsible corporate citizenship.
Emirates Steel Arkan is committed to driving the industry’s decarbonisation efforts at scale that is supporting the nation’s strategic initiative to realise net zero by 2050.
To achieve this, the Group is leveraging innovation across its products and reinforcing its global sustainability stature with innovative low-carbon products that aim to reduce steel consumption in construction. The ES600 steel rebar, the first of many in the pipeline, can reduce steel consumption by 18-24 percent depending on the scale of the project.
The Group’s production process already utilizes less carbon compared to its competitors, and in 2022, it made significant strides in energy efficiency, achieving a double-digit reduction in energy intensity and a remarkable reduction in emissions and emissions intensity. This was achieved by using 80 percent of clean electricity, carbon capture, and scrap metal utilisation.
Emirates Steel Arkan aims to reduce 40 percent in carbon emissions by 2030 and achieve net-zero emissions by 2050.