Baosteel, officially known as Baoshan Iron & Steel Co., Ltd., is a leading player in the global steel industry, headquartered in Shanghai, China. Founded in 1978, the company has established itself as a key manufacturer of high-quality steel products, serving various sectors including automotive, construction, and energy.
With a strong operational presence across Asia and beyond, Baosteel is renowned for its innovative production techniques and commitment to sustainability. The company offers a diverse range of core products, including hot-rolled and cold-rolled steel sheets, which are distinguished by their superior strength and durability.
As one of the largest steel producers in the world, Baosteel has achieved significant milestones, including advancements in technology and environmental practices, solidifying its market position and reputation for excellence in the steel manufacturing sector.
+13 vs industry average
Baosteel’s score of 32 is higher than 64% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Metal Fabrication has above-average carbon intensity
Industry performance
The Metal Fabrication industry has reduced its overall emissions by 26% since 2019
Emissions trajectory 2020 – 2026
Reported emissions
Scope 3 accounts for ••• of total emissions.
Baosteel's reported carbon emissions
In 2023, Baosteel reported total carbon emissions of approximately 13.7 billion kg CO2e, comprising 10.6 billion kg CO2e from Scope 1, 285 million kg CO2e from Scope 2, and 2.8 billion kg CO2e from Scope 3 emissions. This data is cascaded from its parent company, Baoshan Iron & Steel Co., Ltd. Baosteel has set ambitious climate commitments, aligning with China's "Dual Carbon" goals. The company aims to achieve carbon peak by 2023 and carbon neutrality by 2050. Additionally, it has established medium to long-term carbon reduction targets, including an 8% reduction in emissions by 2025, 15% by 2030, and 30% by 2035, all compared to 2020 levels. These targets apply to both Scope 1 and Scope 2 emissions. Baosteel's commitment to reducing its carbon footprint reflects its proactive approach to addressing climate change within the iron and steel industry, which is known for its significant greenhouse gas emissions.
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Baosteel’s Climate Goals (2030 & 2050)
6 goals2030
15% reduction in Scope 2
we have set up the carbon neutrality and medium-long carbon reduction targets, including three five-year carbon reduction targets, namely,…
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
8 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
Inherited from China Baowu Steel Group Co.,Ltd
RE 100
Climate Action 100
Emissions comparison with industry peers
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Baosteel
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