Gestamp signs agreement with ArcelorMittal to use XCarb^® green steel certificates in its industrial activity

Madrid, October 20^th 2021 - Gestamp has signed an agreement with ArcelorMittal to start using XCarb^® green steel certificates for the production of automotive components, as part of an ambitious sustainability strategy aimed at achieving decarbonization in all of its operations. Thanks to this initiative, Gestamp becomes the first Tier 1 supplier in the automotive sector to offer its customers, the world's leading vehicle manufacturers, products with a lower carbon footprint resulting from project-based CO₂ savings achieved through ArcelorMittal’s decarbonisation initiatives.

With this agreement, the company has purchased ArcelorMittal’s  XCarb^® green steel certificates, which allow customers to purchase CO₂ emissions savings made during the steelmaking process and report the savings as a reduction in Scope 3 emissions (indirect emissions from purchased goods).  

This allows Gestamp to reduce its CO₂ impact by contributing towards the decarbonization of its supply chain aligned with the Group's sustainability strategy and to help its customers not only by offering light weight solutions, but also by providing them with CO₂ savings in their own supply chain.

XCarb^® green steel certificates are issued thanks to the CO₂ savings realized by a number of ArcelorMittal decarbonisation initiatives, including the capturing of hydrogen-rich waste gas and re-injecting it into the blast furnace. The CO₂ savings, which are aggregated and independently verified, are calculated in accordance with the GHG Protocol for Project Accounting and are assured by DNV.

With this initiative, Gestamp reinforces its commitment to the decarbonisation of its operations, which it has already pioneered in the sector by setting ambitious decarbonisation targets, and becomes the first Tier 1 supplier in the automotive sector to use XCarb^® green steel certificates with vehicle manufacturers and to market the XCarb^® green steel certificate. Gestamp seeks at all times to make its industrial activity as sustainable and environmentally friendly as possible, so it has set clear commitments and targets for the reduction of emissions from its activity and its supply chain by 2030, in accordance with scientific criteria, which have been approved by the Science Based Targets Initiative (SBTI).

Gestamp is a multinational specialized in the design, development and manufacture of highly engineered metal components for top vehicle manufacturers. It develops products with an innovative design to produce lighter and safer vehicles, which offer improved energy consumption and a reduced environmental impact. Its products cover the areas of body-in-white, chassis and mechanisms.

The company is present in 24 countries with more than 100 manufacturing plants, 13 R&D centers and a workforce of nearly 40,000 employees worldwide. Its turnover was €7,456m in 2020. Gestamp is listed on the Spanish stock market under the GEST ticker.

XCarb^® is designed to bring together all of ArcelorMittal’s reduced, low and zero-carbon products and steelmaking activities. As part of the XCarb^® brand we have launched two innovative offers for our customers: XCarb^® green steel certificates for products made via the Blast Furnace route and XCarb^® renewably produced for products made via the Electric Arc Furnace route using scrap.  

ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 17 countries. In 2020, ArcelorMittal had revenues of $53.3 billion and crude steel production of 71.5 million metric tonnes, while iron ore production reached 58.0 million metric tonnes. Our goal is to help build a better world with smarter steels. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).