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ArcelorMittal Publishes New Corporate Responsibility Report
07/10/2008 - ArcelorMittal announces the publication of ‘Taking Responsibility for Transforming Tomorrow,’ its inaugural corporate responsibility report for the year ending 2007.
ArcelorMittal announces the publication of “Taking Responsibility for Transforming Tomorrow,” its inaugural corporate responsibility report for the year ending 2007.
The report is based around ArcelorMittal’s four pillars of corporate responsibility: Workplace, Environment, Communities, and Governance. It describes the company’s approach and objectives over the coming years to address new challenges for the steel industry.
In the area of workplace, the report details ArcelorMittal’s US$ 216 million investments in safety measures in 2007, as well as the company’s reduction in lost-time incident rate on the previous year. Other highlights include new safety standards, ‘golden rules’ and behavioral safety audit program; and a doubling of the budget for the ArcelorMittal University, supported by new training, development and performance management initiatives.
For environment, the report highlights US$ 306 million investments in environmental measures in 2007; increased levels of environmental management certification across the Group; and US$ 214 million investments for Research & Development in 2007, including products for the renewable energy market. The report also details ArcelorMittal’s increasing use of high strength steels for construction and automotive sectors delivering savings in carbon dioxide emissions.
For communities, the report describes socio-economic studies completed for the company’s greenfield projects in India; social action programs underway in Liberia and Senegal; and the support of 587 projects with a monetary value of US$ 47.9 million through the ArcelorMittal Foundation.
In the area of governance, the report highlights the company’s new corporate responsibility committees and governance structure; and continued training in the Group Code of Business Conduct for all employees. Also described are the company’s high rankings in 2007 external metals and mining investor relations studies, recognizing good shareholder dialogue (1st by buy-side; 3rd among sell-side analysts).
Commenting on the launch of the new report, Gonzalo Urquijo, Member of ArcelorMittal’s Group Management Board, in charge of Corporate Responsibility, said “This new report underlines our commitment to making Corporate Responsibility an everyday part of the way we do business. The process of annual reporting will help provide greater transparency and accountability to our key stakeholders, including our employees, customers, investors and more broadly the communities in which we operate.”
The report is available on ArcelorMittal’s website under “Corporate Responsibility”.
ArcelorMittal is the world's largest integrated metals and mining company, with over 310,000 employees in more than 60 countries. The company leads a number of major global markets, and holds leading R&D and technology, as well as sizeable captive supplies of raw materials and significant distribution networks. An industrial presence in over 20 countries across 4 continents exposes the company to key steel markets, from emerging to mature.
ArcelorMittal’s key financials for 2007 show revenues of USD 105.2 billion, with a crude steel production of 116 million tonnes, representing around 10% of world steel output.
