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Kallanish Kallanish

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September, 17th 2021

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JUL 26
13:16

US Steel links credit to carbon emissions

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US Steel has tied its sustainability targets to its credit facilities, Kallanish learns from a company announcement. 

The company’s $2 billion asset-based revolving credit facility “...has been amended to include an increase or decrease in the margin payable based on achievement of targets related to carbon reduction, safety performance and facility certification by ResponsibleSteel,” US Steel says. The same parameters affect subsidiary Big River Steel’s $350 million credit facility. 

US Steel joined ResponsibleSteel in April, the first North American steelmaker to do so. The company plans to hit net-zero emissions by 2050. 

“Under US Steel’s Best for All strategy, sustainability and profitability are both necessary to achieving our goal of net-zero carbon emissions by 2050,” says ceo David Burritt. “That path is one where US Steel’s innovation and creativity are coming together to meet the defining challenges of this era.”

Dan Hilliard USA