Highlights the Essential Role of Steel in
Enabling a More Sustainable Future
United States Steel Corporation (NYSE: X) (“U. S. Steel”) today
issued its 2022 Environmental, Social and Governance (ESG) Report
titled, “Essential for our Future,” reaffirming its commitment to
sustainable steelmaking and a greener economy. Steel is essential
to enabling critical green technologies like wind turbines, solar
fields, and electric vehicle motors. Moreover, sustainable steel
can contribute towards lowering the greenhouse gas (GHG) emissions
of other products and industries. Steel stands out for its
remarkable capability to be recycled infinitely without any loss of
quality, demonstrating a nearly endless lifecycle once it has been
produced. Recognizing this enduring utility, U. S. Steel is focused
on reducing emissions in meaningful ways while delivering
profitable, differentiated and sustainable steel solutions for
customers and communities, people and planet.
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"Every single employee is playing a role in creating a more
sustainable future," said David B. Burritt, U. S. Steel President
& Chief Executive Officer. "Steel's importance to our society
is undeniable, both in the past and into the future as we
collectively tackle climate change. It’s of particular significance
that we were the first American steel company to set a goal of
achieving net-zero greenhouse gas emissions by 2050.”
During 2022, the construction of U. S. Steel's second
sustainable mini mill at Big River Steel Works made great progress
as the company's transformation to lower-carbon steelmaking
accelerates. Recognition of U. S. Steel’s actions toward it’s 2050
net-zero goal included the existing Big River Steel mill’s receipt
of the first-ever ResponsibleSteel™ site certification for a North
American steel facility, a global multistakeholder standard that
requires the highest standards of environmental, social and
governance performance across the supply chain.
Adding to the company’s green portfolio, and to meet the rising
demand for electric vehicles and more efficient motors, U. S. Steel
is investing in a non-grain oriented (NGO) electrical steel line.
The company unveiled its new electrical steel product, InduX™,
which is set to begin production at Big River Steel in the summer
of 2023. Big River Steel also produces U. S. Steel’s line of green
steel called verdeX®, which is manufactured with up to 70-80
percent fewer emissions than traditional, integrated-mill steel and
has a recycled content of up to 90 percent, exemplifying steel’s
extraordinary potential for high-end recyclability.
U. S. Steel made progress on advancing its supply chain
sustainability programs, surpassing a $300 million spending goal on
diverse suppliers by approximately 130 percent. In addition, 2022
marked its safest year on record, demonstrating the company's
continued commitment to 360° safety, emphasizing both physical and
psychological aspects. Significant strides were also made in
fostering diversity, equity and inclusion (DEI), building an
environment where all employees feel welcome and can thrive. The
company’s recent 2023 DEI Report provides detailed insights into
these efforts.
"2022 was a crucial year in putting our ambitious ESG
initiatives into action,” said Richard L. Fruehauf, U. S. Steel’s
Chief Strategy and Sustainability Officer. “Strategy and
sustainability are inextricably linked. Our Best for All® strategy
recognizes that what is good for the planet is also good for
business, as we focus on producing profitable, sustainable steel
solutions.”
To view the full ESG Report, click here.
U. S. Steel Cautionary Note Regarding Forward-Looking
Statements
This release contains information that may constitute
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. We intend the
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements in those sections.
Generally, we have identified such forward-looking statements by
using the words “believe,” “expect,” “intend,” “estimate,”
“anticipate,” “project,” “target,” “forecast,” “aim,” “should,”
“plan,” “goal,” “future,” “will,” "may" and similar expressions or
by using future dates in connection with any discussion of, among
other things, the construction or operation of new or existing
facilities and operating capabilities, operating or financial
performance, trends, events or developments that we expect or
anticipate will occur in the future, statements relating to volume
changes, shares of sales and earnings per shares changes,
anticipated cost savings, potential capital and operational cash
improvements, changes in the global economic environment, including
supply and demand conditions, inflation, interest rates, supply
chain disruptions and changes in the prices for our products,
international trade duties and other aspects of international trade
policy, statements regarding our future strategies, products and
innovations, statements regarding our greenhouse gas emissions
reduction goals, statements regarding existing or new regulations
and statements expressing general views about future operating
results. However, the absence of these words or similar expressions
does not mean that a statement is not forward-looking.
Forward-looking statements are not historical facts, but instead
represent only the Company’s beliefs regarding future events, many
of which, by their nature, are inherently uncertain and outside of
the Company’s control. It is possible that the Company’s actual
results and financial condition may differ, possibly materially,
from the anticipated results and financial condition indicated in
these forward-looking statements. Management believes that these
forward-looking statements are reasonable as of the time made.
However, caution should be taken not to place undue reliance on any
such forward-looking statements because such statements speak only
as of the date when made. Our Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as required by law. In addition, forward looking statements are
subject to certain risks and uncertainties that could cause actual
results to differ materially from our Company's historical
experience and our present expectations or projections. These risks
and uncertainties include, but are not limited to, the risks and
uncertainties described in “Item 1A Risk Factors” in our Annual
Report on Form 10-K for the year ended December 31, 2022 and those
described from time to time in our future reports filed with the
Securities and Exchange Commission.
References to "U. S. Steel," "the Company," "we," "us," and
"our" refer to United States Steel Corporation and its consolidated
subsidiaries, and references to “Big River Steel” refer to Big
River Steel Holdings LLC and its direct and indirect subsidiaries
unless otherwise indicated by the context. References to “GHG
emissions” refer to Scope 1 and 2 emissions.
Founded in 1901, United States Steel Corporation is a leading
steel producer. With an unwavering focus on safety, the company’s
customer-centric Best for All® strategy is advancing a more secure,
sustainable future for U. S. Steel and its stakeholders. With a
renewed emphasis on innovation, U. S. Steel serves the automotive,
construction, appliance, energy, containers, and packaging
industries with high value-added steel products such as U. S.
Steel’s proprietary XG3® advanced high-strength steel. The company
also maintains competitively advantaged iron ore production and has
an annual raw steelmaking capability of 22.4 million net tons. U.
S. Steel is headquartered in Pittsburgh, Pennsylvania, with
world-class operations across the United States and in Central
Europe. For more information, please visit www.ussteel.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230612156434/en/
Arista Joyner Manager Financial Communications T – (412)
433-3994 E – aejoyner@uss.com Kevin Lewis Vice President Finance T
– (412) 433-6935 E – klewis@uss.com
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