Algoma Steel Issues 2024 ESG Annual Report

Core Insights - Algoma Steel Group Inc. has published its second annual Environmental, Social, and Governance (ESG) report, emphasizing its commitment to becoming a leader in green steel production [1][2] - The company is nearing the completion of its Electric Arc Furnace (EAF) steelmaking facilities, which are expected to reduce emissions by up to 70% while improving product quality and increasing production [1][4] - Algoma's ESG strategy has been advanced through governance and enterprise risk management reviews, ensuring alignment with best practices [1][2] Group 1: ESG Commitment - The company aims to drive change in its operations to support its transformation into a green steel leader, backed by strong governance and stakeholder relationships [1] - The latest ESG report aligns with the Sustainability Accounting Standards Board (SASB) and the recommendations of the Task Force on Climate-related Financial Disclosures [2] Group 2: Production and Technology - Algoma is in the final phase of constructing its EAF facilities, with commissioning expected by the end of the year [1] - The adoption of electric arc technology is part of Algoma's modernization efforts, focusing on recycling and environmental stewardship to lower carbon emissions [4] Group 3: Market Position - Algoma is a fully integrated producer of hot and cold rolled steel products, serving various sectors including automotive, construction, and energy [3] - The company is recognized as a key supplier of steel products in North America and is the only producer of discrete plate products in Canada [3]