Ternium Releases Sustainability Report 2023 and Announces Updated Decarbonization Target
Rhea-AI Summary
Ternium S.A. (NYSE:TX) has released its Sustainability Report 2023, detailing the company's strategy, performance, risks, and governance across various sustainability topics. The report follows international standards set by the GRI, SASB, World Steel Association, and TCFD guidelines, while also aligning with the UN's Sustainable Development Goals.
A key highlight is Ternium's revised decarbonization target, which now includes:
- Incorporation of Scope 3 emissions
- Expanded boundary to include the hot-rolling process
- Adoption of the GHG Protocol methodology
The new target aims for a 15% reduction in emission intensity for hot-rolled steel by 2030, compared to a 2023 baseline, covering Scope 1, 2, and Scope 3 Categories 1 and 10. This update reflects Ternium's commitment to long-term sustainability and integrity in its operations.
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On the day this news was published, TX gained 0.95%, reflecting a mild positive market reaction.
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LUXEMBOURG / ACCESSWIRE / September 26, 2024 / Ternium S.A. (NYSE:TX) today released its Sustainability Report 2023. The report outlines Ternium's strategy, performance, risks, and governance across various sustainability topics, including Climate Change, Environment, People, Communities, and the Value Chain. It also emphasizes that integrity is crucial to Ternium's long-term sustainability.
Ternium's Sustainability Report has been prepared following the international standards set by the GRI (Global Reporting Initiative) and the SASB (Sustainability Accounting Standards Board) for Iron & Steel Producers, as well as the guidelines from the World Steel Association. It also aligns with the recommendations of the TCFD (Task Force on Climate-related Financial Disclosures) for climate change reporting and describes the company's contributions to the UN's Sustainable Development Goals.
The report introduces a revised decarbonization target, which features several changes to the target originally announced in 2021. These are the incorporation of Scope 3 emissions, primarily from raw material and semi-finished steel purchases from third parties; an expanded boundary that now includes the hot-rolling process to better reflect the company's industrial configuration; and the adoption of the GHG Protocol methodology. The new target is a
The report is available at www.ternium.com.
About Ternium
Ternium is a leading steel producer in the Americas, providing advanced steel products to a wide range of manufacturing industries and the construction sector. We invest in low carbon emissions steelmaking technologies to support the energy transition and the mobility of the future. We also support the development of our communities, especially through educational programs in Latin America. More information about Ternium is available at www.ternium.com.
Forward Looking Statements
Some of the statements contained in this press release are "forward-looking statements". Forward-looking statements are based on management's current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to gross domestic product, related market demand, global production capacity, tariffs, cyclicality in the industries that purchase steel products and other factors beyond Ternium's control.
SOURCE: Ternium S.A.
View the original press release on accesswire.com
FAQ
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