With companies all across the world, we face a broad range of challenges and we are committed to taking action, individually and together as an industry, to address them.
worldsteel keeps track of the sustainability performance of the steel industry by reporting annually on eight indicators. By regularly conducting materiality assessments, we are able to identify the areas that matter most to the industry and our stakeholders. Our latest assessment has enabled us to establish seven priority focus areas that supplement our eight indicators.
To advance the steel industry towards responsible sourcing and product supply chains, as set out by the OECD Guidance for Responsible Business Conduct, we have mapped the environmental, social and governance (ESG) characteristics of the steel industry supply chain with the aim of understanding and mitigating all potential adverse impacts.
In a changing society in which the circular economy is crucial for preserving natural resources, worldsteel recognises the companies that demonstrate outstanding engagement to promote steel in a sustainable way. These companies are rewarded through our sustainability champions programme.
By carrying out extensive research and analysis, our goal is to further demonstrate the sustainable benefits of steel both as a material and as an industry.
The member companies of worldsteel are committed to a vision where steel is valued as a major foundation of a sustainable world. This is achieved by a financially sound industry that takes leadership in environmental, social and economic sustainability.
Our sustainability principles cover 7 areas:
In 2018, 71 worldsteel member companies signed the steel industry's Sustainable Development Charter. The Sustainable Development Charter affirms the commitment of worldsteel member companies to adopt the sustainability principles as a core business practice, which is vital to a company’s licence to operate.
Our seven sustainability principles are aligned with the U.N. Sustainable Development Goals: