The Framework enables EMSTEEL and its subsidiaries to issue a variety of green finance instruments-including green bonds, loans, commercial papers, and medium-term notes (MTNs)-across multiple currencies. Proceeds will be exclusively allocated to finance or refinance eligible green projects that meet stringent environmental criteria. These projects include low-carbon steel and cement production, renewable energy installations such as solar photovoltaic systems, energy-efficient technologies, and innovations driving decarbonisation.

Commenting on the launch, Engineer Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL, stated, “Our Green Finance Framework is more than a financial tool – it is a strategic lever to accelerate our transition towards a low-carbon future. It reflects our commitment to aligning our fund raising activities with internationally recognised market standards for green financing and channelling funds toward environmentally responsible projects. Through this initiative, we aim to support the decarbonisation of our operations, foster innovation in low-carbon steelmaking and create long-term value for our shareholders, society, and the planet.”

Mark Tonkens, Group Chief Financial Officer, said: “The launch of our Green Finance Framework marks a pivotal step in reinforcing EMSTEEL’s commitment to sustainability. Aligning our financial strategy with global green finance standards enables us to secure funding for high-impact projects and positions us as a leader in the region’s transition to a low-carbon economy.”
Developed in accordance with internationally recognised best practices, the Framework ensures a robust and transparent approach to the issuance, management, and reporting of green finance instruments. Moody’s Ratings has provided a Second Party Opinion (SPO), awarding the Framework a Sustainability Quality Score of SQS2 (Very Good), enhancing investor confidence in EMSTEEL’s sustainability-focused capital strategy.

The Framework’s development was supported by key partners, including ING as Lead Sustainability Structuring Bank and First Abu Dhabi Bank (FAB) as Sustainability Structuring Bank, highlighting strong regional collaboration in advancing sustainable finance, highlighting strong regional collaboration in advancing sustainable finance.
The Green Finance Framework is a cornerstone of EMSTEEL’s broader Environmental, Social, and Governance (ESG) strategy. It supports ambitious targets to reduce greenhouse gas emissions by 40% in steel production and 30% in cement production by 2030.

As we continue to lead in smart manufacturing and green steel production, our focus remains on delivering long-term value for our shareholders, expanding our impact, and supporting the nation’s industrial and sustainability ambitions.⁣
⁣

Representing the Asia-West region, Amer competed in a rigorous digital simulation focusing on producing low-carbon, high-strength steel.⁣
⁣
His achievement reflects EMSTEEL’s ongoing commitment to investing in our people, innovation, and sustainable steelmaking.⁣
⁣

The recognition was presented during the worldsteel Special General Meeting held in Sydney, Australia. Now in its eighth year, the Steel Sustainability Champion accolade—part of The Steelie Awards—honors companies demonstrating exceptional commitment to sustainable development in the global steel industry.

The recognition is a direct result of the significant strides EMSTEEL made throughout 2024 in enhancing sustainability. A groundbreaking initiative that stood out was the company’s partnership with Masdar to launch the MENA region’s first green hydrogen demonstration project for the steel industry, positioning EMSTEEL as a leader in the UAE’s hydrogen economy and a driving force for providing sustainable solutions for the construction and manufacturing sectors.

Beyond its national initiatives, EMSTEEL is also making a significant global impact. As a co-chair of the Alliance for Industry Decarbonisation, an initiative led by the International Renewable Energy Agency, EMSTEEL is working alongside 84 partners to set joint decarbonisation targets including tripling renewable energy production and reducing greenhouse gas emissions by 54% by 2030.

As part of its ambitious decarbonisation roadmap, EMSTEEL aims to reduce its greenhouse gas emissions by 40% in its Steel Business Unit and 30% in its Cement Business by 2030, with the ultimate goal of achieving net-zero emissions by 2050.

The company has already made substantial progress, having reduced its Scope 1 and Scope 2 emissions intensity by 23%. As of 2023, EMSTEEL’s total Scope 1 and Scope 2 emissions stood at 4.5 million tonnes of CO₂, marking a significant step forward in its journey toward net-zero.

Engineer Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL, said: “Being named a worldsteel Sustainability Champion is a true honour and a reflection of the dedication and hard work of everyone at EMSTEEL. It reinforces our commitment to driving the transition towards a low-carbon future, not just for the steel industry, but for the entire global industrial landscape. With a continued focus on innovation, efficiency, and environmental stewardship, we will build a cleaner, more sustainable tomorrow.”
He added: “As the first steelmaker in the world to capture part of its CO₂ emissions, we have been able to operate with 45% less carbon intensity than the global average, and are excited to continue playing a cataclysmic role in decarbonising this hard-to-abate sector and the downstream supply chain.”

The Steel Sustainability Champions Programme, administered by worldsteel, recognises companies that fulfill stringent criteria, including signing the worldsteel Sustainability Charter, meeting 20 sustainability criteria, providing Life Cycle Inventory (LCI) data, and participating in worldsteel’s initiatives such as the Steelie Awards or the Safety and Health Recognition Programme.

This strategic initiative is a key part of EMSTEEL’s decarbonization strategy implementation and aligns with the UAE’s Net Zero by 2050 commitment. Under the agreement, Yellow Door Energy will finance, build, own, operate, and maintain solar panel installations across 40 EMSTEEL roofs in ICAD 1, Abu Dhabi. The project will comprise rooftop and carport solar installations, including high-efficiency solar panels, with bifacial panels used for carports to optimize clean energy generation.

Upon completion, the project is expected to generate approximately 50 million kilowatt-hours (kWh) of clean electricity annually, offsetting approximately 16,000 metric tons of CO₂ emissions from our scope 2 emissions per year over the next 25 years. The 100% self-consumed renewable electricity will directly reduce energy costs and carbon footprint, furthering EMSTEEL’s commitment to operational efficiency and decarbonization.

Engineer Saeed Ghumran Saeed Al Remeithi, Group CEO – EMSTEEL, stated:
“Sustainability is at the core of EMSTEEL’s strategy, and advancing our decarbonization efforts is a key priority as we shape the future of sustainable manufacturing. This partnership with Yellow Door Energy marks an important step in implementing our recently published decarbonization strategy, by expanding the use of renewable energy across our operations. By integrating on-site solar power, we are reinforcing our leadership in industrial sustainability, contributing to the UAE’s Net Zero by 2050 vision, and setting new benchmarks for renewable energy adoption in the UAE’s steel industry.”

Jeremy Crane, Group CEO – Yellow Door Energy, added: “We are proud to partner with EMSTEEL on this solar lease agreement, enabling them to transition to clean energy while achieving significant cost savings. With a total capacity of 31.5 MWp, this project demonstrates the potential for solar to power our primary industries in the UAE. As a UAE-founded company, Yellow Door Energy remains committed to helping businesses reduce energy costs and decarbonize their operations.”

Construction is set to commence in 2025, with commissioning targeted for 2026. Yellow Door Energy will oversee the end-to-end development, ensuring seamless execution while eliminating upfront investment for EMSTEEL. This solar lease model enables EMSTEEL to enjoy the benefits of clean energy without operational risk, allowing the company to focus on its core business while advancing its sustainability objectives.

As part of the overall Group’s decarbonisation strategy, the company aims to achieve a 40% reduction in absolute greenhouse gas (GHG) emissions in its Steel Business Unit and a 30% reduction in its Cement Business Unit by 2030, using 2019 as the baseline year, with the ultimate goal of reaching net-zero emissions by 2050.

View this post on Instagram

A post shared by EMSTEEL Group (@emsteelgroup)

View this post on Instagram

A post shared by EMSTEEL Group (@emsteelgroup)

EMSTEEL (ADX: EMSTEEL) (“the Group”), one of the largest publicly traded steel and building materials manufacturers in the region, has announced the launch of its Asset Enhancement Programme – a strategic initiative with a CapEx of approximately AED 625 million, designed to enhance production capabilities and introduce advanced steel solutions to meet growing market demands.

The programme directly aligns with the UAE’s Operation 300bn, aiming to upscale innovation in the UAE’s industrial sector and strengthen its role in stimulating the national economy. By advancing the development and production of high-quality, value-added solutions, this initiative supports the UAE’s vision of becoming a global leader in manufacturing and industrial excellence.

Phase 1 of the enhancement programme will focus on upgrading EMSTEEL’s existing rolling mills to enhance production capabilities. This includes the introduction of a new generation of high-strength rebars and advanced heavy-section products, significantly expanding EMSTEEL’s product portfolio to cater to evolving market demands.

Key innovation upgrades during this phase will include advanced shear systems to enable the production of high strength rebars for sustainable construction. This includes EMSTEEL’s flagship ES600, ASTM Grade 80, and ASTM Grade 100 rebars, designed to improve structural integrity while reducing material usage. The advanced tensile properties of the ES600 contribute to decarbonising the construction industry by lowering steel consumption, reducing transportation emissions, and cutting overall carbon footprint.

Phase 1 of the enhancement programme will also enable EMSTEEL to leverage state-of-the-art rolling mill technology to produce quenched and self-tempered (QST) and thermo-mechanically controlled processed (TMCP) heavy-section steel. This ensures enhanced strength and resilience for demanding applications across high-rise buildings, large-scale infrastructure projects, and the multi-faceted web of assets available in today’s energy sector.

QST enhances steel toughness and wear resistance by using rapid cooling, improving its mechanical properties without compromising weldability, while TMCP optimises the steel’s microstructure through controlled rolling and cooling, resulting in high strength, excellent weldability, and improved impact resistance which are critical for structures exposed to extreme loads and harsh environmental conditions.

Phase 2 will include the installation of a new wire rod outlet with a capacity up to 500 KTPA, along with the upgrades of a cooling conveyor at existing rolling mills. These enhancements will enable the production of Value-Added (VA) and High-Value-Added (HVA) wire rods, as well as High Tensile Rebar in Coil. To support this expansion, EMSTEEL will also upgrade its steel melt shop with state-of-the-art VD technology and enhancements to billet casters, ensuring the production of high-carbon and special alloy billets required for the new product range.

These investments support EMSTEEL’s strategic shift from producing standard, commodity-grade steel to specialized, high-value products that offer enhanced strength, durability, and efficiency for critical applications. This transition not only strengthens customer retention but also positions EMSTEEL to capitalize on the growing regional demand for premium steel solutions.

The GCC market currently relies on imports for VA-grade wire rod products, with demand expected to grow at a CAGR of 7-10% over the next decade. By overcoming existing mill limitations and expanding its product portfolio, EMSTEEL is poised to enhance its competitive positioning in key sectors, including infrastructure, energy, railways, industrial applications, petrochemicals, and automotive components.

The enhancement project follows an ambitious timeline, with EMSTEEL’s first rolling mill upgrade set for commissioning by Q4 2025 and the second by Q2 2026. Phase 2 is expected to be completed in the first half of 2027, further enhancing EMSTEEL’s capabilities. Upon completion, this initiative will significantly strengthen the company’s market position, expand its customer base, and drive additional EBITDA growth.

Eng. Saeed Ghumran Al Remeithi, Group Chief Executive Officer, EMSTEEL, said: “As industries evolve and infrastructure projects grow more demanding, the need for higher-grade steel is becoming paramount. Without continuous investment in advanced steel solutions, manufacturers risk falling behind in a competitive global market. EMSTEEL’s strategic transformation ensures that it stays ahead of industry trends, providing state-of-the-art materials that meet the growing needs of modern construction, energy, and industrial projects.”

He added: “We are not just enhancing our production capabilities; we are redefining industry standards and pioneering solutions that will shape the skylines of tomorrow. By investing in innovation and sustainability, we reaffirm our commitment to delivering world-class steel products that drive economic growth across the UAE and beyond.”

EMSTEEL Group remains committed to delivering high-quality, sustainable solutions to meet the region’s industrial and construction needs. As the UAE’s leading publicly listed steel and building materials company, it continues to pioneer initiatives that drive regional growth and strategic collaboration to boost the nation’s economy.

This milestone celebrates our groundbreaking green hydrogen pilot project with Masdar—the first of its kind in MENA. By replacing natural gas in iron extraction, we demonstrated a scalable solution that supports the UAE’s Net Zero 2050 and National Hydrogen Strategy 2050, setting a new benchmark for sustainable steel production.

This achievement highlights our unwavering commitment to driving sustainable innovation and leading the industry toward a greener future.

We’ve launched Innovation Week 2025, aligned with the UAE’s vision for progress. Over the 4 days, we’ll host 8 dynamic sessions on AI-driven workplace safety, green hydrogen, 5G smart factories, sustainability, and customer experience innovation.

We look forward to contributing to the UAE’s journey toward becoming a global leader in innovation.

Aligned with the UAE’s vision for industrial growth, we remain committed to empowering local talent and advancing the sector. We were also pleased to welcome H.E. Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology to our stand during the event.