BlueScope has reported progress towards its 2030 emissions intensity targets, with a 13% reduction in non-steelmaking emissions intensity since FY2018 and a 16% reduction in steelmaking emissions intensity against its 2030 targets. The company has also made strides in operational improvements and new technology pathways to support its 2050 net zero goal.
Material actions and disclosures
BlueScope has installed a more efficient paint line oven at Western Port, enhanced waste heat recovery in Malaysia, and initiated renewable electricity projects across Southeast Asian sites. The Western Port facility is no longer covered by the Safeguard Mechanism (SGM) due to reported Scope 1 emissions remaining below the coverage threshold.
The company has also issued 289,294 and 1,138 Safeguard Mechanism Credits (SMCs) for FY2025 compliance year. BlueScope’s 2050 net zero goal was adopted and communicated in August 2021, with progress monitored using absolute emissions (ktCO2-e) and intensity-based metrics (tCO2-e per tonne of steel or despatched steel).
Forward commitments
BlueScope aims to achieve a 12% reduction in steelmaking emissions intensity by 2030 and a 13% reduction in non-steelmaking emissions intensity by 2030. The company plans to continue assessing the 2050 net zero goal and its scope and timing, with an annual review of climate-related risks and opportunities by the Board.
BlueScope has committed to invest up to $150M over five years in projects supporting the 2030 targets and longer-term decarbonisation ambitions, with a total estimated spend of approximately $300–$400M to 2030. The company also retains the option to use carbon offsets where direct abatement is not technically or commercially feasible.
BlueScope’s 2050 net zero goal and 2030 targets are monitored and reviewed on a regular basis, with updates provided to the Executive Leadership Team (ELT) and the Audit, Risk and Technology Committee (ARTC) on a quarterly basis.