Outokumpu publishes 2024 Annual Report
Steel company Outokumpu has released its 2024 Annual Report, which includes its first Sustainability Statement prepared according to European Sustainability Reporting Standards (ESRS).
Helsinki – March 4, 2025 – Outokumpu Oyj has published its Annual Report for 2024. This year's report marks the first Sustainability Statement prepared according to the European Sustainability Reporting Standards (ESRS).
Outokumpu emphasizes its commitment to the green transition, positioning itself as a global leader in sustainable stainless steel. The company's operations are built on a circular economy model, where 95% of its products are made from recycled materials and are themselves fully recyclable.
Despite a challenging financial year in 2024, Outokumpu reported progress in its decarbonization strategy. The company achieved a 32% reduction in emission intensity from its 2016 baseline, surpassing its science-based climate targets. Outokumpu's stainless steel has up to a 75% lower carbon footprint than the industry average, and in 2024, it enabled customers to reduce their emissions by 10 million tonnes compared to the global average.
The company maintained a record low total recordable incident frequency rate of 1.5. Outokumpu also received Fair Pay Workplace certification, being the first in the stainless steel industry. The Annual Report is available in English and Finnish and includes an annual review, the Board of Directors' report with the Sustainability Statement, financial statements, and corporate governance and remuneration reports.