voestalpine expands its climate action goals and joins the Science Based Targets initiative

Customer and supplier relationships as well as capital market evaluations are increasingly focusing on efforts to achieve the global targets set out in the Paris Climate Agreement.

The objectives apply not only to the steel-producing sites in Linz and Donawitz, but also the entire voestalpine Group. Specifically, and taking the year 2019 as its reference, the company plans a 30% reduction in Scope 1 and 2 emissions and a 25% reduction in Scope 3 emissions by 2029.

The Science Based Targets initiative is a partnership between the Climate Disclosure Project (CDP), UN Global Compact, World Resources Institute, and World Wildlife Fund for Nature (WWF). It helps companies align their business activities with the Paris Climate Goals, and provides scientific proof of this achievement. Globally, around 3,000 companies from a wide range of sectors including the steel industry are involved in the SBTi.

greentec steel is voestalpine’s ambitious phased plan for green steel production: in a first significant intermediate step, partial replacement of the existing blast furnace route with a hybrid-electric steel pathway could reduce carbon emissions by around 30% from 2027, corresponding to around 3 to 4 million tons of CO₂ annually. In 2027, voestalpine will begin operating one electric arc furnace at each of the Linz and Donawitz sites; the necessary preparations are already underway. voestalpine’s mission is carbon-neutral steel production using green hydrogen by 2050, for which the Group is already undertaking intensive research into promising breakthrough technologies.