United States Steel Corporation (NYSE: X) (“U. S. Steel”) released its 2023 Task Force on Climate-Related Financial Disclosures (TCFD) report, outlining how climate-related risks are managed, what climate-related opportunities exist, and U. S. Steel’s approach to addressing climate-related issues in the areas of governance, strategy, risk management, and metrics and targets.
The 2023 TCFD report reaffirms U. S. Steel’s commitment to providing stakeholders with increased transparency and disclosure into its sustainability program. Building on the company’s first TCFD report in 2021, this year’s report reassesses U. S. Steel’s climate-related physical and transition risks while adding new location-based quantitative impact assessments of facilities and suppliers.
Insights gained from the TCFD further enable U. S. Steel to integrate updated climate risk considerations and inform its Enterprise Risk Management (ERM) program while strengthening its overall resilience. The 2023 TCFD report also highlights several climate-related opportunities for U. S. Steel, including the opportunities to expand low-carbon and specialized products to meet the increased market demand and increased consumption of steel used in production and distribution of renewable energy, particularly with our verdeX® steel and InduX™ electrical steel.
The full report is available here.
About U. S. Steel
Founded in 1901, United States Steel Corporation is a leading steel producer. With an unwavering focus on safety, the Company’s customer-centric Best for All® strategy is advancing a more secure, sustainable future for U. S. Steel and its stakeholders. With a renewed emphasis on innovation, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products such as U. S. Steel’s proprietary XG3® advanced high-strength steel. The Company also maintains competitively advantaged iron ore production and has an annual raw steelmaking capability of 22.4 million net tons. U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe. For more information, please visit www.ussteel.com.