When it comes to GHG emissions, our product portfolio and manufacturing operations are differentiated from many other steel manufacturers around the world: 

  • Our specialty alloys do not require the coking or iron ore operations that are found in carbon steels, which require carbon-intensive inputs like coal. 
  • Our melting operations use low-carbon electric arc furnaces and vacuum-induction melting furnaces as opposed to blast furnaces. 
  • The majority of our material inputs are from reclaimed or recycled steel and alloys. 
  • Over 90% of our electricity is sourced from nuclear power and other carbon-neutral sources of power.


As we emerge from the pandemic and ramp up our operations, we are seeing an increase in our absolute emissions and intensity. However, we expect our emissions intensity to quickly fall back to previous levels as our operations achieve—and surpass—previous output levels.

To help put our emissions into the context of the broader steel industry, we also report our crude steel emissions. Production of crude steel is the basis for SBTi’s steel industry sector decarbonization approach. As you can see, our crude steel emissions are world-class for the industry and below SBTi’s publicly stated target for a "well below 2°C" scenario.


In 2021, 91% of our electricity was sourced from nuclear power and other carbon-neutral sources. Going forward, we will look to increase and diversify our use of carbon-neutral and renewable power. 

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Scope 1 & 2 Emissions

(Metric Tons, Thousands)



CO₂ Emissions Intensity




Crude Steel CO₂ Emissions Intensity






Carpenter Technology has set the goal of reducing intensity of Scope 1 & 2 CO₂ emissions per ton of material by 30% by 2035. We are using 2019 CO₂ emissions as our baseline year, as it was the last full year of operation before the COVID-19 pandemic.


We plan to achieve this through four main activities:

  1. Recycle waste heat from our furnaces to improve efficiency of furnace operations.

  2. Convert natural gas-fueled boilers and furnaces to electric.

  3. Increase the share of carbon-free grid-electricity, using renewable and nuclear-based energy.

  4. Improve our operational efficiencies.


In addition, we will pursue other initiatives that will help us further drive down our CO₂ emissions.

Finally, we aspire to achieve net-zero carbon emissions by 2050 for Scope 1 & 2 emissions. Meeting this goal will require technological advancements — such as carbon capture systems and the use of hydrogen in specialty steels — and customer partnerships before becoming commercially feasible. We are committed to evaluating and investing in new technologies that will move us towards a net-zero future.




To set these targets, we conducted a detailed assessment of our operations, including onsite audits and an analysis of our historical data. We identified a set of opportunities to reduce CO₂ emissions, then prioritized those initiatives based on the greatest impact.

We also reviewed the Science Based Targets initiative (SBTi) guidance for the steel industry. SBTi’s sector decarbonization approach for the steel industry is based on the production of crude steel. Using the SBTi approach — measuring our emissions intensity only for manufacturing crude steel — we are below the target levels for a “well below 2°C” scenario. However, we continue to process material beyond the initial melting step associated with crude steel; our targets are for the entirety of our operations.



Emerging Technology Center in Athens, Alabama