Dec. 14, 2007 JFE Steel Corporation, the world's third-largest steel manufacturer, has pledged $890 million over the next three years to reduce emissions and save energy. The move is part of a $5 billion allocation to boost production as the steel industry struggles with increasing demand from the transportation sector.

Speaking at a briefing yesterday, JFE president Hajime Bada said investments in new steel-processing equipment would cut the company's carbon dioxide emissions by 4.2 million metric tons, or 8% from last year's levels, by March 2009. JFE aims to boost production capacity from 3 million tons to 33 million tons in the same time period.