ArcelorMittal

Does the core business genuinely avoid or reduce emissions, or build climate resilience? Share of revenue that is actually 'green'. Fossil-dependent models score low.

Around 75% of ArcelorMittal's steel is still produced via coal-fired blast furnaces, generating over 100 million tonnes of CO2e annually; XCarb® low-carbon steel accounts for only 0.4 million of 57.9 million tonnes shipped in 2024, and flagship hydrogen-DRI projects in Europe have all missed final investment decisions as of mid-2025 while the India JV is expanding high-emissions capacity.

Credible, science-based targets (SBTi), a real net-zero plan with progress to date, and CDP disclosure — not just a dated press release.

ArcelorMittal has a 2050 net-zero pledge and a 25% carbon-intensity reduction target by 2030, but it publicly acknowledged in November 2024 that the 2030 target is 'increasingly unlikely' to be met; its SBTi commitment lapsed after the validation deadline expired and was not renewed; Scope 3 and JV emissions are excluded from targets; no SBTi-validated near-term targets exist.

Operational footprint, labour and social practices, and governance quality across the company's own operations and supply chain.

ArcelorMittal has ResponsibleSteel™ certification at 42 sites and publishes an annual sustainability report with third-party elements, but faces multiple fatal and serious workplace accidents at its Indian JV (at least seven deaths recorded in 2024-2025), 200+ environmental charges in Canada under the Fisheries Act for alleged mine effluent contamination, pollution complaints in Spain, France, and Liberia, and over 4,000 potential job losses in South Africa.

Quality of disclosure, independent third-party verification, and how much hard data backs the company's claims.

ArcelorMittal publishes annual sustainability reports with DNV GL-verified XCarb® certificates and discloses to CDP, but materially excludes emissions from its 60%-owned AM/NS India JV (contributing ~10 million additional tonnes), and its last full Climate Action Report was published in July 2021; the company admitted in 2024 it cannot make 'useful projections' on near-term emission reduction pace.

Controversies, litigation, pollution, fossil-fuel lobbying, conflict-zone involvement and governance scandals. Higher means cleaner.

ArcelorMittal faces an OECD complaint filed by Opportunity Green and SteelWatch over climate inaction, 200+ criminal charges by indictment in Canada for Fisheries Act violations spanning nearly a decade, a SteelWatch finding that it spent only one-third of its pledged decarbonisation investment, ongoing pollution complaints across France, Spain, Liberia, and Bosnia, and multiple fatal accidents at its India JV plant.