The World Steel Association (worldsteel) has unveiled a revised and expanded ‘Sustainability Charter’, reflecting the industry’s increasing focus on sustainability and a responsibility to generate positive impacts on people, the planet, and the prosperity of society.
The new charter also represents what worldsteel says is the industry’s ‘action-oriented’ approach towards sustainability, which strongly encourages steel producers and associations to be proactively engaged in worldsteel’s sustainability programmes and to push for higher standards in their own sustainability performance.
The updated charter includes nine principles and 20 criteria covering the areas of environment, social, governance and economics (ESGE). To sign up, steel companies must meet all 20 criteria. The leaders of 39 members have done so, signed the charter, and are therefore recognised as charter members for a three-year period. Worldsteel’s membership represents around 85% of global steel production.
Edwin Basson, director general, worldsteel, says sustainability is a business requirement and a fundamental component of all industries’ operations. ‘Ethical and socially responsible companies need to be able to demonstrate to their stakeholders how they perform and where they are heading. With the release of this Charter the steel industry reaffirms its commitment to sustainability and demonstrates the industry’s enhanced efforts and aligned actions towards a sustainable society.’
The move also looks to harmonise existing worldsteel sustainability activities, including the eight sustainability indicators, Steel Safety Day, the LCI data collection programme and the annual Steelie Awards. Signing the charter is an eligibility criterion for worldsteel’s Sustainability Champions Recognition Programme.
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