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JFE Steel Corporation

JFE Steel Endorses METI’s GX League Basic Concept for Green Transformation

JFE Steel Corporation announced today its endorsement of the GX League Basic Concept, an initiative unveiled recently by Japan’s Ministry of Economy, Trade and Industry (METI) aimed at bringing together government, academic and business leaders to facilitate the green transformation (GX) of economic and social systems, including through the creation of green markets.

The GX League Basic Concept provides guidelines for the envisioned GX League’s world view, the kinds of entities to attract as members, key initiatives and related timelines, based on which the participants will discuss organizational details and the feasibility of various initiatives, with the goal of launching the GX League within the fiscal year starting this April.

JFE Steel’s parent company JFE Holdings, which regards addressing climate change as a top priority, unveiled its JFE Group Environmental Vision for 2050 in May 2021 and is working toward carbon neutrality by developing advanced technologies on multiple fronts, including with support from the government-led Green Innovation Fund. In parallel, JFE Steel, which regards carbon neutrality as a growth opportunity, is striving to reduce its CO2 emissions as well as to contribute to CO2 reduction throughout society.

JFE Steel, having determined that the overall direction of its green initiatives are consistent with the purpose of the GX League, is now voicing its enthusiastic endorsement of the GX League Basic Concept. Going forward, the company is committed to pursuing this and a range of other initiatives to address climate change and ultimately realize a more sustainable world.

 

About JFE Steel Corporation

JFE Steel Corporation, one of the world’s leading integrated steel producers, was established through the consolidation of NKK Corporation and Kawasaki Steel Corporation in 2003. The company operates several steelworks in Japan and numerous branch offices and affiliates throughout the world. JFE Steel leverages world-class technologies and know-how to produce a wide range of products based on its “Only One, Number One” strategy of focusing on unique and best-in-class products. The company reported consolidated sales of 2,255 billion yen and consolidated crude steel output of 23.96 million tons in the fiscal year ended March 2021.

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