Kobe Steel

Kobe Steel's reported carbon emissions

Kobe Steel, a prominent Japanese company in the basic iron and steel sector, is committed to climate action with ambitious reduction targets. For the fiscal year ending March 2024, the company reported total Scope 1, 2, and 3 emissions of approximately 49.6 billion kg CO2e. This includes around 14.2 billion kg CO2e from Scope 1, approximately 800 million kg CO2e from Scope 2, and an estimated 25.8 billion kg CO2e from Scope 3 emissions. Looking back, in the fiscal year ending March 2023, total emissions were approximately 47.6 billion kg CO2e. This comprised roughly 14.7 billion kg CO2e (Scope 1), 900 million kg CO2e (Scope 2), and an estimated 26.9 billion kg CO2e (Scope 3). In the fiscal year ending March 2022, total emissions stood at approximately 47.3 billion kg CO2e, with Scope 1 at around 14.7 billion kg CO2e, Scope 2 at approximately 800 million kg CO2e, and Scope 3 at an estimated 26.8 billion kg CO2e. Kobe Steel has set a long-term goal to achieve carbon neutrality by 2050, a commitment first announced in May 2021 as part of its Medium-Term Management Plan. This target encompasses all scopes of emissions. Furthermore, the company is working towards a near-term reduction of 30-40% in CO2 emissions compared to fiscal year 2013 levels by 2030. By fiscal year 2022, Kobe Steel had achieved approximately a 20% reduction against the fiscal year 2013 baseline. In fiscal year 2021, emissions reductions stood at around 16% compared to fiscal year 2013. These reduction targets primarily cover Scope 1 and Scope 2 emissions from major business locations, representing approximately 95% of the Group's total CO2 emissions.