Productive relationships with our stakeholders are crucial to our business. This goes beyond disclosure to dialogue: we will be more aware of our stakeholders’ expectations and will be better able to address them when we have a positive working relationship. Conversation often leads to collaboration, and this is the approach we are taking in tackling our most pressing issues, such as climate change, and establishing common standards across our operations.

Our key stakeholder groups are our employeesinvestors, regulators, customers, and the communities in which we work. Trade unions, suppliers, NGOs, multilateral organisations and research institutions are also important. We identified these key stakeholder groups through analysis based on peer group analysis, best practice across the world and the principles of the AA1000 Stakeholder Engagement Standard 2011.  Since then, certain global multi-stakeholder networks have become increasingly important, and these are assessed as part of our strategy development.

We ask all our sites to develop a stakeholder engagement plan and manage a stakeholder grievance mechanism in line with company standards, explained on our Social page.

 

 

At a corporate or segment level, we engage in a number of stakeholder networks for each of our six SD themes, including:

  • Climate change: International Energy Agency, Energy Transition Commission, Science-based Target Initiative, Eurofer, European Commission, the Climate Group, CSR Europe
  • Customer reassurance: ResponsibleSteel ; Mining industry sustainability initiatives such as Responsible Mining Initiative, Initiative for Responsible Mining Assurance and Better Coal, CSR Europe Drive initiative
  • Environment: ResponsibleSteel, Mighty Earth, and many other nationally-based civil society organisations on standards for steelmaking sites
  • Social: ResponsibleSteel on standards for steelmaking sites, European Works Council on a variety of SD issues; European Roundtable of Industrialists on gender issues.
  • Safety: Joint Global Health and Safety Committee, with representatives from our management and our unions.
  • Product innovation: Roundtable for Product Social Impact Assessment, SOVAMAT initiative (SOcial VAlue of MATerials), an international network of experts on the social and environmental impacts of materials.