ACCR Company Engagement Kobe Steel, Ltd.

Kobe Steel (KOBELCO) is Japan’s third-largest steel producer.

Kobe Steel was founded in 1905 and is predominantly engaged in steel manufacturing.

More than 90% of Kobe Steel’s greenhouse gas emissions come from steelmaking. It also operates a number of coal and gas-fired power plants. The company has acknowledged reducing its emissions is a “top management priority” and that to “increase corporate value” it aims to transition to carbon neutrality by 2050. However, investors remain concerned that the current plan lacks the ambition and transformative approach necessary for significant emission reductions.

Kobe Steel is investing in new technology to facilitate its decarbonisation. In April 2023, it announced a partnership with investor Mitsui and Co. to explore the possibility of developing a Direct Reduced Iron (DRI) facility in Oman.

ACCR commenced engagement with Kobe Steel in 2023.

Details of Kobe Steel’s announced steel and iron decarbonisation projects, which feature in ACCR’s global coverage of the steel sector’s emission reduction efforts, can be found here.

Updates

  1. Research

    Ahead of the game: investor sentiment on steel decarbonisation

    ACCR commissioned a survey of investor sentiment - surveying 500 investors based in Australia, the United States, as well as countries across Asia and Europe, each with investments in steelmaking, iron ore and/or metallurgical coal mining.

  2. Insights

    ACCR Presentation on the green steel transformation

    Webinar to discuss insights from ACCR's recently published report, Forging pathways: Insights for the green steel transformation.

  3. Research

    Investor handbook: Engaging with the steel sector

    This handbook aims to support investors in company engagement, a key tool to drive value and enable emissions reductions in the steel sector.

  4. Research

    Forging pathways: insights for the green steel transformation

    Across every stage of the value chain, companies are taking advantage of advancements in technology to enable less carbon intensive steelmaking.