Water, food, and energy supplies are at risk due to global warming. The primary cause of global warming is greenhouse gas emissions. Carbon dioxide (CO2), methane (CH4), and nitrogen oxides (NOx) are GHGs produced by the combustion of oil, fossil fuels, and other sources.
Around 4% to 7% of greenhouse gas emissions come from the metals and mining industry. In the industrial sector, GHG emissions are generated from energy generation, heat, and steam. The International Council on Mining and Metals (ICMM) has committed to net zero Scope 1 and 2 emissions by 2050.
Nucor Corp (Nucor) is a provider of steel and steel products. In 2021, the company reported total GHG emissions of around 20.1 million tonnes CO2 equivalents (MtCO2eq), an increase of 15% over 2020.
GHG emissions are classified into three categories: scope 1, scope 2, and scope 3. Scope 1 emissions are direct emissions from facilities owned or controlled by the company, such as fuel use, on-site electricity generation, anode and reductant use, and process emissions. Scope 2 refers to GHG emissions resulting from the generation of purchased energy, such as electricity, heat, or steam from third parties. Scope 3 emissions refer to the company's other indirect emissions beyond the company’s direct operations and occur in the company’s value chain, including upstream and downstream activities.
Scope 3 emissions account for most of Nucor’s overall GHG emissions, accounting for 36% of total GHG emissions (7.3 MtCO2eq) in 2021. In 2021, the company's Scope 1 emissions increased by 51%, and Scope 2 emissions rose by 6%.
Nucor’s greenhouse gas emissions are less than one-third of the Paris Agreement’s 2030 target established by the Transition Pathways Initiative (TPI) for the steel sector. Nucor is among the cleanest steel producers in the world with GHG emissions that are less than one-quarter of the global average and one-fifth of the average integrated steel producer, according to its sustainability report.
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