The Ferrexpo mining company with assets in Ukraine was included in the rating of 500 European companies of Europe's Climate Leaders 2023, which have achieved success in reducing emissions and decarbonizing production.
Over the past four years, Ferrexpo has reduced greenhouse gas emissions by 31% at its production facilities, reports GMK Center.
It is noted that the rating was compiled in the Financial Times economic publication. Ferrexpo is in this list next to Deloitte, L'oreal, Philips, Hermes, Ernst & Young, Henkel, Electrolux.
The material emphasized that by 2030 the company plans to reduce carbon emissions by up to 50% and become climate neutral by 2050. The company's specialists estimate the capital investment required for decarbonization at $3.3 billion.
"This figure reflects the estimated total capital expenditures for the further modernization of the Group's mining, processing and logistics assets for the production of iron ore pellets with zero emissions," the material explained.
It is noted that Ferrexpo systematically implements projects to improve energy efficiency and decarbonization.
According to the company, these initiatives will minimize the impact of greenhouse gas emissions on the environment, namely the greenhouse effect. This phenomenon is the root cause of global warming, which European countries have been experiencing recently.
Earlier, EcoPolitic wrote, that iron ore pellet company Ferrexpo has strengthened its decarbonization targets, namely plans to reduce Scope 1 and 2 carbon emissions by 50% by 2030 and Scope 3 by 10%.
As EcoPolitic previously reported, French Industry Minister Roland Lescure said that thanks to state aid, industry will become a key driver of decarbonization on the European continent.