Health & Safety
Steel production includes exposed and dangerous environments. This is why it is extremely important to have a strong focus on health & safety to minimize the risks of accidents. This responsibility extends to include company employees and contractors.
Emissions from steel production
In blast furnaces, iron is produced by using coke and coal to reduce iron ore. This process creates carbon dioxide (CO2). Today, it is impossible to produce new steel without generating CO2 emissions. The process, which has been used for centuries, has been continually developed and improved to become highly efficient, and the residual energy is recovered in the form of district heating and electricity production. Scrap-based steel production emits significantly less CO2. Since there is currently not enough scrap available for recycling to meet the demand for new steel across the world, ore-based steel production using blast furnaces is still needed. Today, 30% of the demand for new steel can be covered with the scrap available globally.
Efficient use of energy is aimed at reducing the amount of energy required to provide products and services. Steel companies can reduce costs by finding alternative energy sources with less emissions, using less purchased energy, as well as feeding surplus energy into the grid. From a lifecycle perspective, this also creates positive effects and saves natural resources, thereby reducing CO2 emissions.
Material efficiency means making more out of less material, resulting in increased efficiency in the use of natural resources. The production of iron and steel give rise to a range of residuals. Recirculating ferrous material back into the steelmaking process reduces the need for virgin raw materials. This in turn, reduces CO2 emissions and saves costs. Material that cannot be recirculated internally can be processed and sold externally to create new revenue streams. This reduces CO2 emissions by substituting natural resources in other industries. For example, blast furnace slag enables the cement industry to significantly reduce their CO2 emissions. Increasing internal recirculation of residuals and external sales of by-products will lead to reduced waste and less material will be sent to landfill.
A critical element in reducing carbon emissions originating in the steel lifecycle is to optimize steel recycling. Steel is almost unique in its capacity to be infinitely recycled without loss of properties or performance. Steel is today the most recycled material globally, more than all other materials combined.
Competence and leadership development
It is critical for a company to attract, develop and retain people with the right competence and mindset. To do this, it is important to work actively with HR programs such as performance and planning dialogs between managers and employees, management reviews and succession planning, leadership training programs, employee development programs, diversity training and inclusion, etc.
One of the most important challenges today is to engage, attract and retain employees with the right skill set. The creation of a more diverse workforce with different competences, experiences and backgrounds, and a workplace where everyone has equal opportunities, will lead to a stronger company culture and help to achieve better results.
In today’s globalized world, anti-corruption and business ethics have become increasingly important for companies. Failure to address corruption, bribery and other issues related to business ethics will have negative impacts on the company’s reputation and brand.
Labor/human rights in the supply chain
Today, companies are increasingly expected to take responsibility, not only for labor and human rights in their own operations, but also within their supply chain. This includes evaluating supplier risks and suppliers´ ability to address labor and human rights; including no use of child or forced labor, a healthy and safe work environment, etc. Conducting risk assessments and supply chain monitoring through self-assessment questionnaires, audits and other follow-up systems are important tools to work with.
Financial and operational performance
We believe that by managing our business in a sustainable way we will increase our possibilities to deliver strong financial and operational results. That is why financial and operational performance is not included in one of the three focus areas, but rather should be seen as the outcome of performing well in all three areas.