IFC, a member of the World Bank Group, is providing Aperam, a global producer of stainless, alloy, specialty and carbon steel, with a EUR 250 million financing package to support the company's decarbonization efforts through the sustainable production of coal, a renewable fuel for steelmaking.
The investment is part of IFC's broader strategy to promote the sustainability of the steel sector, aiming to create jobs, reduce carbon emissions and strengthen best practices for managing environmental impacts.
The steel industry is a vital part of the global economy, with wide applications in many sectors such as construction, automotive, energy and transportation. However, it is known as one of the most challenging sectors to decarbonize. IFC estimates that the steel sector accounts for around 88% of global carbon dioxide emissions.
IFC's financing package aims to modernize the coal production furnaces at Aperam's facilities in Brazil with cleaner and more efficient technology. This investment will improve the sustainability of Aperam's operations and significantly reduce its carbon footprint.
Commenting on the investment, Olaf Schmidt, IFC's Regional Director for Industry, stated: “We are pleased to partner with Aperam to promote innovative solutions in the steel industry. This investment reinforces IFC's commitment to sustainable development and environmental stewardship. By supporting this project, IFC aims to provide innovative solutions that benefit both the economy and the environment.”
Frederico Ayres Lima, CEO of Aperam South America, added: “At Aperam, sustainability is a fundamental pillar of our strategy. This partnership with IFC represents an important step in our efforts to promote low-carbon steel production. We are strengthening our leadership in environmentally responsible steel production and contributing to Brazil's decarbonization goals.”
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