World's leading steel company reiterates commitment to energy-efficiency and safety and wellbeing in the workplace and beyond as economic recovery gathers pace
Issued as part of the company's Annual General Meeting at its Luxembourg headquarters, this report underlines ArcelorMittal's commitment to improving its safety and sustainability performance in line with growing product demand from the recovering global economy. The report has been externally assured by Bureau Veritas and adheres to the Global Reporting Initiative G3 guidelines and United Nations Global Compact principles.
Key highlights of this year's CR report include the launch of a dedicated Human Rights Policy, which is implemented across its operations as well as through its supply chain.
ArcelorMittal's investments in energy-saving and environmental projects in 2010 increased to $347 million, from $224 million the previous year. Furthermore, ArcelorMittal's commitment to research and development, spending $322 million in 2010, is helping it to reach its goal of reducing emissions by 8% or 170kg per tonne of steel produced by 2020, against a 2007 baseline.
ArcelorMittal's health and safety performance also improved, with the Group's Lost Time Injury Frequency Rate (LTIFR) falling from 1.9 per million hours worked in 2009 to 1.8 per million hours in 2010. Moving forward, the company is firmly committed to its 'Journey to Zero', and has set a new ambitious Group-wide target to reduce LTIFR to 1.0 per million hours worked by 2013.
Other key Corporate Responsibility highlights for the 2010 financial year included the following: