Baoshan Iron & Steel Co., Ltd. (Baosteel) stated on November 11 in response to investor inquiries on an interactive platform that the company has formulated mid-to-long-term carbon reduction targets in line with China Baowu Steel Group's "dual carbon" goals. Based on its current business operations and carbon reduction potential, as well as advancements in low-carbon metallurgical technology, Baosteel aims to reduce carbon emissions by 8% by 2025, 30% by 2035, and achieve carbon neutrality by 2050, using 2020 as the baseline year.
In 2023 and 2024, the carbon emission intensity of Baosteel's four production bases was 2.04 tons and 2.00 tons of CO₂ per ton of crude steel, respectively, marking a reduction of 4.23% and 6.1% compared to the 2020 level of 2.13 tons of CO₂ per ton of crude steel. The company has successfully met its annual carbon reduction targets.
Building on these achievements, Baosteel will continue to advance its low-carbon development strategy to support China Baowu's "dual carbon" objectives. Additionally, the company has broken down strategic contributions for each carbon reduction phase to ensure that targets are measurable, traceable, and achievable in alignment with its climate change risk mitigation strategy.
