Feralpi Group has re-entered the Financial Times and Statista Europe's Climate Leaders 2023 ranking, as announced by the Italian company in a press release.
"Among the 500 European companies that are most successfully reducing their greenhouse gas emissions in relation to revenues in the 2016-21 period, only 33 are Italian and three of them belong to the ‘construction and building materials’ cluster including Feralpi, among the most important European steel producers," the company said, adding, "This is a confirmation of the sustainability strategy pursued by Feralpi, already recognized in the 2022 edition."
The requirements to enter this year's ranking were even more strict than before: not only performance on Scope 1 and Scope 2 emissions reductions (direct and indirect) was calculated, but also transparency of reporting on Scope 3 emissions (which include all indirect emissions from the value chain) as well as indicators on commitment to emissions reduction were considered.
According to these analyses, Feralpi Group achieved a compound annual reduction rate (CARR) based on the sum of Scope 1 and 2 emissions, adjusted for revenue growth, over the 2016-21 period of 9.9 percent with a total core emissions reduction of 22.9 percent.
"Being among the Financial Times' Europe's Climate Leaders for the second time in a row reinforces the conviction that we are on the right track to make our contribution in the fight against climate change," commented Giuseppe Pasini, chairman of Feralpi Group. "Our responsibility is producing the best steels with the lowest possible impact. And this is precisely the aim of our ESG strategy, which includes the adoption of new circular models as well as investments to electrify processes, to produce renewable energy independently, and to replace fossil fuels wherever possible. This milestone comes along a path toward decarbonization that began many years ago and still goes on. It was intended, designed, measured and shared with the ultimate goal of creating value for our stakeholders," Pasini stated.