SteelWatch 8d ago

Nippon Steel’s acquisition of U. S. Steel has made its production capacity the world’s third largest and considerably expanded its global footprint. It has also given it a far greater responsibility to cut coal use and protect people’s health and safety. However, the company appears to not understand this yet. It's investing in blast furnace life extensions in Gary, USA, and pushing ahead with plans for carbon capture and storage (CCS) in Chiba, Japan. This will lock in more coal use, and people will pay the price. Among its global peers, Nippon Steel is one of the least prepared to live up to its decarbonisation, transparency and social responsibilities, largely because technologies it is choosing are fundamentally incapable of deep decarbonisation. With its AGM on June 23, investors are right to be concerned that Nippon Steel is locking itself into a coal business with no future. Read more about how Nippon Steel putting coal first, puts communities last: www.steelwatch.org/stories/nippon-steel-puts-coal-first Music: Bensound.com / License: IFWX5FIQNIGUM5JN / Artist: : Theatre Of Delays