COMMITTING TO GHG EMISSIONS REDUCTION TARGETS
Steel manufacturing is an energy-intensive process, which is why Carpenter Technology actively monitors and manages energy consumption across all operating locations. Today, approximately 90% of our electricity is sourced from nuclear power, a carbon-neutral source. Recognizing the nuclear offsets, the balance of our GHG emissions are from fossil fuels used in our operations. To reduce our GHG emissions, we have committed to reducing our intensity of Scope 1 & 2 emissions per ton of material by 30% by 2035.
Through 4 main activities, we plan on achieving our GHG emissions reduction targets:
Recycle waste heat from our furnaces to improve efficiency of furnace operations
Convert natural gas fueled boilers and furnaces to electric
Increase the share of carbon-free grid-electricity, using renewable and nuclear-based energy
Improve our operational efficiencies
In addition, we will pursue a number of other initiatives that will help us further drive down our CO2 emissions.