Invest in future proofing your company, not enriching shareholders

ArcelorMittal says it will take USD10 billion to reach its 2030 decarbonisation goals, however, despite allocating 1.5 billion to clean up its business in the last three years, it has spent barely a third of this. In the same period, it spent 11 billion on stock buybacks and dividends for shareholders. If it can afford 11 billion for shareholders in 3 years, it can afford 10 billion for the planet in a decade.

ArcelorMittal: We’re calling on you to:

Align your financial strategy with the 1.5C Paris Climate Agreement pathway and the respect of international human rights standards;

Abandon your policy of committing free cash flow to repurchase equity; stop increasing dividends per share;

Invest in decarbonisation across your operations globally, and commit the 10 billion you said is needed;

Stop investing in technologies that lock in carbon, and invest in near-zero-carbon steel to transform your business with the speed and scale required to stay within 1.5C limits;

Immediately implement an investment plan for pollution control and for occupational health and safety in sites with documented shortages.

ArcelorMittal, we're calling on you to:

Respect human rights, in actions not just wordsRespect human rights, in actions not just words Respect human rights, in actions not just words Respect human rights, in actions not just words Respect human rights, in actions not just words Respect human rights, in actions not just words

Invest in future proofing your company, not enriching shareholdersInvest in future proofing your company, not enriching shareholders Invest in future proofing your company, not enriching shareholders Invest in future proofing your company, not enriching shareholders Invest in future proofing your company, not enriching shareholders Invest in future proofing your company, not enriching shareholders

No more dirty tricks: be accountable and transparentNo more dirty tricks: be accountable and transparent No more dirty tricks: be accountable and transparent No more dirty tricks: be accountable and transparent No more dirty tricks: be accountable and transparent No more dirty tricks: be accountable and transparent

Put workers, communities, and our environment firstPut workers, communities, and our environment first Put workers, communities, and our environment first Put workers, communities, and our environment first Put workers, communities, and our environment first Put workers, communities, and our environment first

Stop making empty promises and be a real climate champion Stop making empty promises and be a real climate champion Stop making empty promises and be a real climate champion Stop making empty promises and be a real climate champion Stop making empty promises and be a real climate champion Stop making empty promises and be a real climate champion

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Shiny Claims, Dirty Flames is a campaign organised by an alliance of different organisations, facilitated by the Fair Steel Coalition, concerned about the terrible human and climate costs of mining and producing iron and steel. Companies like ArcelorMittal are failing to take adequate action to cut their emissions, to use better technology to clean up production, and to take their responsibilities on human rights seriously.

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