The Feralpi Group is the only Italian steelmaking company in the 2023 ranking of European companies that are most successful at reducing GHG emissions
Lonato del Garda, 30 May 2023 – The Feralpi Group is the only Italian company in the steel industry included in the 2023 list of Europe’s Climate Leaders drawn up by the Financial Times in collaboration with Statista.
Of the 500 European companies that are most successful in reducing their greenhouse gas emissions in relation to revenues in the period 2016-2021 only 33 are Italian, and 3 of these belong to the "Construction & Building Materials" cluster, which includes Feralpi, one of Europe's most important steel manufacturers. This is confirmation of the sustainability strategy pursued by Feralpi, as previously endorsed in the 2022 edition (click here to view the complete ranking published by the British daily and now in the printed edition).
The requirements for inclusion in the 2023 ranking were even more stringent than in the past: calculations took into account not only performance in reducing Scope 1 (direct) and Scope 2 (indirect) emissions, 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 mitigating emissions.
According to this report, the Feralpi Group achieved a compound annual reduction rate (CARR) based on the sum of Scope 1 and 2 emissions and adjusted by a 9.9% growth in revenue over the period 2016-2021, giving an overall decrease in core emissions of 22.9%.
Ranking among the Financial Times's Europe's Climate Leaders for the second time running – commented Giuseppe Pasini, President of the Feralpi Group – makes us more convinced that we are on the right track to doing our bit for climate change. It is our responsibility to produce the best steel with the lowest possible impact. And this is precisely what drives our ESG strategy, which in turn includes the adoption of new circular models as well as investments for electrifying processes, producing our own renewable energy and replacing fossil fuels wherever possible. This acknowledgment comes in the course of a journey towards decarbonisation that started many years ago and is still ongoing. We have planned, designed, measured and shared it with the ultimate aim of creating value for our stakeholders
All of the companies surveyed by the Financial Times, in collaboration with Statista, were contacted to allow the data to be scrutinised and validated. Of these companies, the 500 with the greatest reduction in emissions intensity made it into the short list of Climate Leaders 2023.