The advocacy shareholder Australian Center for Corporate Responsibility (ACCR) pointed out that Japan's fourth-largest global steelmaker, Nippon Steel, faces the risk of increasing decarbonisation costs in its acquisition of United States Steel, urging the company to address the impact of the acquisition on its climate goals. Nippon Steel proposed in 2021 that decarbonisation costs would involve up to $34.8 billion in capital expenditures by 2050, including research and development expenses, some of which will be offset by government support. ACCR pointed out that the acquisition of United States Steel will increase the company's number of blast furnaces by 11, almost certainly increasing decarbonisation costs. ACCR holds less than 1% of Nippon Steel's shares and, along with Corporate Action Japan (CAJ) and Mizuho Financial Group, submitted a report urging Nippon Steel to improve its decarbonisation strategy. CAJ specifically requested that the company disclose more about its carbon emission targets to its shareholders. Nippon Steel's announcement last year that it proposed a $15 billion offer to acquire United States Steel was opposed by the White House and union groups in the United States.