Outokumpu’s Ambitious Climate Targets Earn Recognition on Financial Times’ Prestigious List

Outokumpu’s Ambitious Climate Targets Earn Recognition on Financial Times’ Prestigious List

(IN BRIEF) Outokumpu, the only stainless steel producer, has been recognized as a leading climate leader in Europe by the Financial Times. The prestigious list, created in partnership with research company Statista, acknowledges companies that are making significant strides in reducing emissions and demonstrating transparency in climate-related initiatives. Statista reviewed data from 2,000 European companies to compile the final list, considering reductions in core emissions intensity and companies’ reporting of scope 3 emissions. Outokumpu’s ambitious science-based climate targets, approved by the Science Based Targets initiative, set it apart from other stainless steel producers. Additionally, the company was previously acknowledged by CDP for its efforts in reducing emissions in the supply chain. Outokumpu’s recognition highlights its commitment to sustainability and positions it as an industry leader in combating climate change.

(PRESS RELEASE) HELSINKI, 30-May-2023 — /EuropaWire/ —  Outokumpu (HEL: OUT1V), the largest producer of stainless steel in Europe, has been honored with a coveted spot on the Financial Times’ prestigious list of Europe’s Climate Leaders in 2023. This esteemed recognition, in collaboration with research company Statista, celebrates European companies that are at the forefront of emissions reduction, while also demonstrating unwavering transparency and commitment to global climate-related initiatives.

Statista meticulously analyzed public data from approximately 2,000 European companies to compile the final list. The selection criteria focused on companies that exhibited the most substantial reduction in their core emissions intensity—specifically, their Scope 1 and 2 greenhouse gas emissions relative to revenue. Notably, this year’s methodology also emphasized the importance of companies reporting scope 3 emissions and actively participating in climate-related initiatives such as the Carbon Disclosure Project (CDP) and the Science Based Targets initiative (SBTi).

As the sole stainless steel producer included in this remarkable lineup, Outokumpu has demonstrated an unwavering dedication to combating climate change. The company has committed to ambitious science-based climate targets that align with the 1.5-degree ambition, a crucial milestone in driving global sustainability efforts. Outokumpu’s climate targets have been officially approved by the Science Based Targets initiative (SBTi), further solidifying the company’s commitment to environmental stewardship.

This recent recognition from the Financial Times follows Outokumpu’s notable achievement in March 2023, when the company secured a position on the esteemed Supplier Engagement Leaderboard by CDP for its commendable efforts in reducing emissions across its supply chain.

“Being included in this listing as the only stainless steel company shows that we are truly leading the industry with our ambitious climate targets. It is also an acknowledgement for our long-term work in reporting and reducing our indirect scope 3 emissions. We are constantly working with our suppliers and other partners to further reduce our raw material emissions. Going forward, we will keep innovating to further strengthen the closed-loop economy of steel to benefit the whole ecosystem”, says Juha Erkkilä, VP – Sustainability at Outokumpu.

Outokumpu’s inclusion in the Financial Times’ list of Europe’s Climate Leaders underscores its unwavering dedication to environmental sustainability and positions the company as an industry frontrunner in the fight against climate change. By continually pushing the boundaries of emissions reduction and actively engaging in global climate initiatives, Outokumpu is setting an inspiring example for the stainless steel industry and beyond.

More information:

Outokumpu media desk, tel. +358 40 351 9840, e-mail media@outokumpu.com

SOURCE: Outokumpu Oyj