GlobalData offers a comprehensive analysis of Cleveland-Cliffs, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Cleveland-Cliffs‘s ESG performance. GlobalData’s company profile on Cleveland-Cliffs offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.

Cleveland-Cliffs, a steel and mining company, has announced its commitment to reducing greenhouse gas (GHG) emissions and work towards climate change action plan. Cleveland-Cliffs latest filings mentioned the keywords ‘Emissions’ and ‘Recycled’ most number of times in relation to 'Climate Change'.

Cleveland-Cliffs regularly tracks the progress against its goal of 25% reduction of combined absolute Scope 1 and 2 GHG emissions by 2030 from 2017 levels. In 2022, Cliffs’ Scope 1 and 2 GHG emissions were already below its reduction goal ahead of the target year of 2030. This was achieved through strategic actions such as optimizing its asset footprint and raw material mix, particularly its unique practice of using significant amounts of HBI in its blast furnaces to reduce its coke rates, along with production levels of crude steel.

Cleveland-Cliffs has taken steps to reduce its emissions, including investing in renewable energy and energy-efficient technologies. The company has also implemented measures to improve the efficiency of its operations, such as optimizing its transportation and logistics systems.

In conclusion, Cleveland-Cliffs plans to continue investing in emission reduction technologies and renewable energy sources to achieve its targets. In its Sustainability Report 2021, Cliffs announced a target to purchase 2 million megawatt hours (MWh) annually of renewable power that is newly developed or additional to the existing power grid. The company has also committed to working with its suppliers and customers to reduce emissions throughout its supply chain.

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies representing the world’s largest industries. This analysis is combined with crucial details on strategic and investment priorities, innovation strategies, and CXO insights to provide comprehensive company profiles.