Environmental groups have accused ArcelorMittal of greenwashing just ahead of the Olympic flame’s arrival in France, criticizing the steelmaker’s use of low-carbon steel for the torch as a PR move to enhance its environmental image. The firm, known for its significant carbon emissions, has faced scrutiny for failing to meet its decarbonization investment pledges, with activists highlighting its focus on shareholder returns over climate action.

A recent report by SteelWatch revealed that ArcelorMittal has only allocated a third of the $1.5 billion it committed to decarbonization efforts over the past three years. Critics point out that for every dollar invested in decarbonization, the company returns $22 to shareholders, indicating a lack of genuine commitment to sustainability.

Despite these findings, ArcelorMittal has been promoting its involvement in supplying ‘low carbon’ steel for the Olympic torch, leveraging its sponsorship of the event to showcase its green initiatives. This juxtaposition of environmental claims with alleged shortcomings in carbon reduction efforts has drawn condemnation from activist groups like Fair Steel Coalition.