ArcelorMittal, the world’s largest steel producer, has been ranked ninth in the Benchmark of Circular Business Practices, a comparative study of Netherlands-listed companies.
The Dutch Association of Investors for Sustainable Development (VBDO) produced the study and ArcelorMittal’s ranking is in recognition of the company’s alignment with the concept of a circular economy. It was also singled out for its good practice in steel recycling.
The ‘circular economy’, claims ArcelorMittal, is an alternative to the traditional ‘make, use, dispose’ economy. In a circular economy, resources are kept in use for as long as possible, extracting the maximum value from them while in use and then recovering and regenerating products and materials at the end of their life.
ArcelorMittal’s recycling rate of end-of-life/obsolete steel products is 87%. The company recycles around 30Mt/yr and develops new processes that will help recover more steel from waste streams. It also employs life cycle analysis experts working on the re-use of residues from the steelmaking process.