Blocked Nippon Steel Bid Praised by Groups With Climate Concerns

Environmentalists are hailing the White House’s recent order to block Nippon Steel from buying US Steel, saying a takeover by the Japanese giant would have guaranteed many more years of carbon-intensive, coal-based steelmaking.

The decision matters because steelmaking constitutes about 11% of global carbon emissions. Nippon Steel Corp. and United States Steel Corp. were the fourth and 24th biggest producers in the world in 2023, according to the World Steel Association. President Joe Biden on Jan. 3 formally blocked the $14.1 billion sale of US Steel to Nippon Steel after a US security review.

“It boils down to a lack ...