Sustainability & corporate responsibility 2 minutes spent reading

Sustainability & corporate responsibility

Claudia Korntner

Long-term thinking and sustainable action are voestalpine’s answer to increasingly rapidly changing framework conditions and new challenges—not only, but particularly—in the environment sector.

At voestalpine sustainability is far more than just a modern buzzword—it is an integral part of the Group’s identity and corporate strategy. This is why we have supported the United Nations’ Global Compact since 2013, designing our sustainability agenda in accordance with its principles.

The various aspects of thinking and acting in a sustainable manner are part of our corporate responsibility (CR), which has been established as a separate unit within voestalpine since 2012. Almost all of the company’s business units are relevant to corporate responsibility. In addition to

  • ethical business management (compliance, corporate governance),
  • human rights,
  • the sustainable supply chain,
  • R&D,
  • employees, and society,

environment is naturally a core focus, and life cycle assessment (LCA) in particular.

Considering the value chain as a whole: LCA

Life cycle assessment (LCA) involves considering materials as well as all processes and value chains along their entire service life as part of the circular economy. Technologies and facilities are constantly being optimized in order to operate in a more resource-efficient, environmentally friendly, and economically effective manner. The results of these processes are increasingly important, not only for the company itself, but also for its customers. By taking this comprehensive and holistic approach it is possible to demonstrate the advantages of steel as a material, especially with respect to its almost limitless service life, as well as defining options for optimizing production processes, and developing product innovations.

Sustainability in the supply chain

Another focus of sustainable management at voestalpine lies in ensuring transparency in the supply chain. This is clearly a challenge, especially for companies operating around the globe. As part of its focus on sustainable supply chain management, voestalpine has analyzed the supply chain for steel products with respect to adherence to legal, social, and ecological standards such as human rights, corruption, working conditions, and, of course, environmental issues.

Stakeholder communication

The ongoing dialog between CR managers and the individual specialist departments, and especially with experts in the environment department, is crucial to developing sustainability further.

voestalpine communicates regularly with its stakeholder groups. It makes use of numerous opportunities including discussions and panels with experts, conferences and trade fairs, analyst and investor meetings. Here voestalpine engages in intensive, facts-based exchanges with NGOs on the subject of energy and climate policy. Discussions with customers also indicate the growing relevance of LCA and the pioneering role which steel plays as a material.

The latest information on voestalpine corporate responsibility is available on the corporate website, in the CR report, and the CR factsheet. The next CR report will appear in fall 2018.