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Target to cut greenhouse gas (CO2)
Severstal set short-term and mid-term targets to reduce greenhouse gas emissions:
"Severstal recognizes the urgency for the steel industry to reduce its direct and indirect emissions and contribute towards the goals of the Paris Climate Agreement and is wholly committed to showing leadership in reducing its own climate contribution. For this reason, we continue to challenge ourselves to achieve more in this area.
We have set targets to reduce GHG emissions intensity by 3% by 2023 and by 10% by 2030. Targets are underpinned by detailed programs and a roadmap of specific investment projects giving our stakeholders confidence that the reduction is not just an abstract promise but our strong commitment.
It is important to note that as a vertically integrated company, we control and bear responsibility for emissions at every stage of our production chain — from the extraction of raw materials to the development of finished products."
Alexander Shevelev, CEO of Severstal
GHG emissions reduction is among the KPIs of some executives, including Head of Severstal Russian Steel business unit. Meeting the KPIs impacts a variable part of remuneration.