{"id":81785,"date":"2024-01-16T00:00:00","date_gmt":"2024-01-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/01\/16\/france-steelmaker-arcelormittal-invest-eur-1-8-bn-to-slash-emissions\/"},"modified":"2024-01-16T00:00:00","modified_gmt":"2024-01-16T00:00:00","slug":"france-steelmaker-arcelormittal-invest-eur-1-8-bn-to-slash-emissions","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/01\/16\/france-steelmaker-arcelormittal-invest-eur-1-8-bn-to-slash-emissions\/","title":{"rendered":"France + Steelmaker ArcelorMittal invest EUR 1.8 bn to slash emissions"},"content":{"rendered":"<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>France and steelmaker <\/strong><strong><a target=\"_blank\" href=\"https:\/\/corporate.arcelormittal.com\/media\/press-releases\" style=\"\" rel=\"noopener\">ArcelorMittal<\/a><\/strong><strong> are jointly investing EUR 1.8 bn to curb emissions <\/strong><strong>produced by the company\u2019s steel plant in Dunkirk<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-14\/arcelor-france-to-invest-1-8-billion-to-cut-steel-emissions\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. This move aims to cut France\u2019s industrial emissions by 6%.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Where is the money going?<\/strong> The investment will fund two electric furnaces and a direct reduction plant, Bloomberg writes, citing Finance Minister Bruno Le Maire. The French government will put in as much as EUR 850 mn. <\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;padding-left:0pt;border-left-style:solid;font-family:\" arial\";orphans:2;text-align:left;padding-top:14.2pt;margin:0;border-right-width:0pt;padding-bottom:0pt;line-height:1.1875;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2;padding-right:0pt\"=\"\"><strong>Vive la France:<\/strong> France beat out Belgium, Germany, and Spain to acquire the decarbonization investment from ArcelorMittal, which Le Maire described as a \u201cmajor victory for France.\u201d The steel producer will sign a letter of intent with Electricite de France SA for a long-term nuclear power supply contract. <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>EAIF raises USD 294 <\/strong><strong>mn<\/strong><strong> in debt:<\/strong> The Emerging African Infrastructure Fund (EAIF) has raised USD 294 mn in debt capital from Allianz Global, Standard Bank, and German state-owned development bank KfW to expand continental and Asia-bound investments on energy transition and smart city infrastructure projects through to 2025. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-15\/africa-focused-infrastructure-fund-raises-294-million\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<li><strong>BMW expects EVs to drive growth going forward: <\/strong>BMW\u2019s combustion engine car sales reached their \u201ctipping point\u201d in 2023 and the company now expects growth to be driven by EVs moving forward. EV sales rose 75% last year for the luxury car brand, led by the i4 sedan and other models. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-15\/bmw-says-combustion-cars-have-peaked-with-evs-driving-growth\" style=\"\" rel=\"noopener\">Bloomberg<\/a>) <\/li>\n<li><strong>Hertz to sell a third of its EV fleet: <\/strong>Car rental company <a target=\"_blank\" href=\"https:\/\/www.hertz.com\/rentacar\/reservation\/\" style=\"\" rel=\"noopener\">Hertz<\/a> is going back on its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dc387a02-db1d-481a-85dc-e16855c3a7d0\" style=\"\" rel=\"noopener\">decision to invest<\/a> in EVs and is now selling 20k of its vehicles \u2014 mainly Teslas. The decision to slow down EV expansion plans comes on the back of declining demand, less consumer spending, and market competition. (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/01\/14\/hertz-makes-agile-decision-to-shift-strategy-and-sell-evs-teslas.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The move will reduce emissions by 6% in France<\/p>\n","protected":false},"author":1,"featured_media":81786,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[70,214,217,11,215,216],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-carbon","tag-co2-emissions","tag-enterpriseclimate","tag-france","tag-steel","wpautop","entry"],"acf":{"mongo_id":"dee4b8f2-b1ac-4914-979e-617c2cca6c9b","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/959.jpg","photo_position":"above","homepage_title":"","full_issue_title":"France + Steelmaker ArcelorMittal invest EUR 1.8 bn to slash emissions","related_issue":[81771],"teaser":"The move will reduce emissions by 6% in France","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.0330bf64-bd78-41e3-8234-105268a72840.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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