Sustainability is integrated into all our operations, activities and decision making, from the purchasing of the materials to production and logistics and we expect our business partners, subcontractors and suppliers to follow similar standards.
Leader in sustainable steel production
Outokumpu is the world leader in sustainable stainless steel production. We have significantly reduced our carbon footprint and we are clearly below industry average: we produce stainless steel with up to 75%* lower carbon footprint than the global industry average. All of Outokumpu’s stainless steel mills can be considered as significant recycling facilities.
We have also set an ambitious climate target to further reduce emissions across our value chain approved by Science Based Targets initiative (SBTi) aligned with the 1.5°C target. To reach the target, Outokumpu aims to decrease direct (scope 1) and indirect emissions (scope 2) as well as emissions from the supply chain (scope 3) by 42% per tonne of stainless steel by 2030 compared to the 2016 baseline. Our long-term target is to achieve carbon neutrality by 2050 in scope 1 and scope 2 emissions.
By 2023, Outokumpu has reduced its emission intensity by 27% from the 2016 baseline, by continuing to implement our sustainability strategy further by increasing the use of recycled materials, low-carbon electricity, energy efficiency, improvements in operations and replacing fossil fuels with renewable alternatives.
Outokumpu made significant steps in 2023 to reduce its scope 3 emissions in the future by strengthening its supply chain sustainability through new partnerships. In addition, Outokumpu took actions to reduce emissions from its own operations by, for example, investing in the carbon neutrality target of the Kemi mine.
* The calculation is based on Outokumpu's carbon footprint compared to the global average of stainless steel: Outokumpu stainless steel CO₂ emissions (2023): 1.52 kg CO₂e per kg of stainless steel. Global average CO₂ emissions (2023): 7 kg CO₂e per kg of stainless steel. (Outokumpu’s calculation based on data provided by CRU and worldstainless.)
Business based on circular economy
As a material, stainless steel is strong, corrosion-resistant, durable and hygienic: in many ways, it is the perfect answer to global challenges such as resource scarcity, urbanization, and global climate and water challenges. Steel is the world’s most recycled material. In fact stainless steel is 100% recyclable and suffers no degradation during reprocessing.
Our business is based on the circular economy, as our most important raw material is recycled steel. Together with metals recovered from waste products and by-products of the production process, it enables the recycled content of our stainless steel to be raised to the highest recycled content level in the market. We again reached a record in recycled materials in 2023: the total input of recycled materials in our steel was 94.6%.
Chrome makes stainless steel stainless. Outokumpu has its own chrome mine and ferrochrome works and that makes us uniquely self-sufficient. As our ferrochrome operations CO2 footprint is up to 67% lower than the industry average, it gives us a sustained competitive advantage in our carbon emissions.
Outokumpu is a signatory to the UN Global Compact and has committed to contributing to the United Nations' Sustainable Development Goals (SDGs). We have defined five SDGs that are the most material to our operations and sustainability themes.