EMSTEEL announces comprehensive decarbonization strategy, aligned with the UAE's net-zero by 2050 strategic initiative
This strategy underscores EMSTEEL's commitment to sustainable manufacturing and aligns with the UAE's Net Zero by 2050 Strategic Initiative, the UAE's Nationally Determined Contribution (NDC 3.0), and the Paris Agreement. EMSTEEL is dedicated to driving industrial decarbonization in line with the UAE's goal of a 27% reduction in industrial emissions by 2035 from 2019 levels.
To achieve a significant reduction in its CO₂ footprint, the Group will focus on implementing key decarbonization strategies, including enhancing energy efficiency, incorporating advanced process optimization technologies and utilizing alternative fuels and raw materials in steel and cement production. Additionally, it is also expected to accelerate the use of clean and renewable energy to cover 100% of electricity demand by 2030.
Engineer Saeed Ghumran Al Remeithi, Group CEO – EMSTEEL, said: 'EMSTEEL is committed to leading the transformation of the construction and manufacturing sectors through sustainable practices. Our decarbonization strategy not only aligns with the UAE's Net Zero 2050 goals, but also positions EMSTEEL as a global leader in low-carbon steel and cement production. Through innovation, investment, and collaboration, we are building a more sustainable future for our industry and our planet.'
The steel and cement industries are among the most carbon-intensive sectors globally, generating a substantial share of GHG emissions. Acknowledging both the challenges and the significant social and economic benefits of successful decarbonization, EMSTEEL is committed to significantly reduce its Scope 1 and Scope 2 emissions in the coming years. The Group has already made substantial progress in reducing Scope 1 and Scope 2 emissions, as well as emissions intensity during 2019 and 2023. As of 2023 EMSTEEL's total Scope 1 and 2 emissions stood at 4.5 million tonnes of CO₂, which is 23% below the baseline year of 2019.
The above achievements have been driven by advancements in energy efficiency, the implementation of carbon capture technologies, and the integration of clean and renewable energy solutions. Additionally, the Group continues pioneering critical decarbonization technologies and has recently launched a groundbreaking pilot green hydrogen project—the first of its kind in the Middle East and North Africa—in collaboration with Masdar. This initiative leverages green hydrogen to extract iron from iron ore, marking a significant milestone in the region's journey toward sustainable steel production.
In September 2024, the EMSTEEL was appointed as Co-Chair of the Alliance for Industry Decarbonisation (AFID) led by the International Renewable Energy Agency (IRENA). EMSTEEL was also recognised as the 2024 Steel Sustainability Champion by the World Steel Association for its pioneering efforts in decarbonising steel production. The World Economic Forum recognised EMSTEEL for its outstanding efforts in decarbonising the iron and steel industry, placing it among the top five leading steel companies worldwide that have received this recognition. Finally, at the 'Make it in the Emirates Awards 2024', the Group's contributions to the UAE's industrial sector were recognised with the Best Sustainable Manufacturing Award and the ICV Excellence Award.
About EMSTEEL
EMSTEEL is a public joint stock company (ADX: EMSTEEL) and the UAE's largest steel and building materials manufacturer. The Group leverages cutting-edge technologies to supply both the local market and over 70 international markets with high-quality finished products, creating a one-stop shop for the manufacturing and construction sectors.
EMSTEEL is committed to contributing to the UAE's industrial strategy 'Operation 300 billion' by delivering market-leading products to support local industries, creating job opportunities for UAE Nationals, and enhancing its sustainable practices. The Group is a global leader in low-carbon steel production and is aligned with the UAE's Net Zero by 2050 Strategic Initiative.
Headquartered in Abu Dhabi, EMSTEEL operates 16 state-of-the-art plants, with a production capacity of 3.5 million tonnes of steel and 4.6 million tonnes of cement annually, fueling the nation's most iconic projects.
EMSTEEL is majority owned by ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy.
For more information, please visit our website: www.emsteel.com.
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The Group restates its full-year organic revenue growth outlook to a range of 0.5% to 1.0% (from approximately 2%), reflecting broader economic uncertainty and a sharper-than-expected decline in cigarette sales. Despite a more cautious revenue outlook, the Group expects to deliver stronger profitability through enhanced operational efficiency and disciplined cost management. The Group, therefore, revises its full-year guidance of underlying profit attributable to shareholders to be between US$250 million and US$270 million (up from previously between US$230 million and US$270 million). Scott Price Group Chief Executive [1] Own brand and e-commerce related costs are reclassified from selling, general and administrative expenses to the corresponding business segments beginning first half of 2024 Hashtag: #DFIRetailGroup#Guardian#Mannings#7-Eleven#ColdStorage#Giant#Wellcome#IKEA#yuu#Maxim's The issuer is solely responsible for the content of this announcement. DFI Retail Group DFI Retail Group (the Group) is a leading Asian retailer, driven by its purpose to 'Sustainably Serve Asia for Generations with Everyday Moments'. At 30 June 2025, the Group and its associates operated over 7,500 outlets, of which over 5,500 stores were operated by subsidiaries. The Group, together with its associates, employed over 83,000 people, with over 45,000 employed by subsidiaries. The Group had total annual revenue in 2024 of US$24.9 billion and reported revenue of US$8.9 billion. DFI is dedicated to delivering quality, value and service to Asian consumers through a compelling retail experience supported by an extensive store network and highly efficient supply chains. The Group including its associates operates a portfolio of well-known brands across five key divisions: health and beauty, convenience, food, home furnishings and restaurants. The principal brands are: Health and Beauty • Mannings on the Chinese mainland, Hong Kong and Macau S.A.R.; Guardian in Brunei, Indonesia, Malaysia, Singapore and Vietnam. Convenience • 7-Eleven in Hong Kong and Macau S.A.R., Singapore and Southern China. Food • Wellcome and Market Place in Hong Kong S.A.R.; Cold Storage and Giant in Singapore; Lucky in Cambodia. Home Furnishings • IKEA in Hong Kong and Macau S.A.R., Indonesia and Taiwan. Restaurants • Hong Kong Maxim's group on the Chinese mainland, Hong Kong and Macau S.A.R., Cambodia, Laos, Malaysia, Singapore, Thailand and Vietnam. The Group's parent company, DFI Retail Group Holdings Limited, is incorporated in Bermuda and has a primary listing in the equity shares (transition) category of the London Stock Exchange, with secondary listings in Bermuda and Singapore. The Group's businesses are managed from Hong Kong. DFI Retail Group is a member of the Jardine Matheson group.
