Outokumpu invests in projects to combat climate change
PRESS RELEASE
June 10, 2009 at 9.15 a.m.
Outokumpu launched last year a competition to combat climate change
as part of its corporate responsibility theme year 2008. Stainless
steel production requires a large quantity of energy. At Outokumpu
the main energy source is electricity where the share of renewable
sources is some 50 percent. The winning proposal aims to further
increase the amount of electricity from renewable sources by
investing in power generation by wind turbines to reduce carbon
dioxide emissions, and suggests that Outokumpu would provide
stainless steel for the turbines.
The second prize was given for detailed engineering of recycling
hydroxide sludge in Avesta, Sweden to produce a useful product
instead of sending the material to landfill. The third prize was
given for creating a virtual meeting room to reduce the amount of
traveling group wide and to enable more efficient ways of working.
As part of the corporate responsibility theme year, Outokumpu decided
to invest five million euros in an environmental target to be
identified through a group wide competition to combat climate change.
The innovations were to reduce direct or indirect carbon dioxide
emissions caused by the use of fuels or to facilitate the recycling
and utilization of our by-products instead of virgin natural
resources. Outokumpu's internal jury decided that the five million
euros will be divided between the best initiatives.
Pekka Erkkilä, Executive Vice President of Outokumpu and member of
the jury was pleased with the commitment of employees: - The
investment proposals are well in line with our long-term goals -
energy and material efficiency both contributing to combating climate
change. They also contribute to reaching our concrete goals set for
2009 to reduce energy consumption and waste.
Timetable and detailed implementation plan for the winning proposals
will be decided in due course.
For more information, please contact:
Pekka Erkkilä, Executive Vice President and member of the jury,
tel.+358 9 421 5503
This announcement was originally distributed by Hugin. The issuer is
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