The company was created in 2002 through the merger of the steel manufacturing business of Kawasaki Steel and NKK, and is owned by JFE Holdings Inc. The company has historically relied upon coal-based blast furnaces, meaning its scope 1 and 2 emissions are primarily from steel production.

ACCR has engaged with JFE Steel since 2021 on enhancements to its climate governance and decarbonisation measures. In 2022, following engagement with ACCR, Man Group and Storebrand Asset Management, the company committed to annually consider its climate target; annual shareholder conversations about the alignment of its technology investment with its emissions target; and link executive remuneration with its medium-term business plan’s emissions targets.

Details of JFE’s announced steel and iron decarbonisation projects, which feature in ACCR’s global coverage of the steel sector’s emission reduction efforts, can be found here.

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