Managing ESG at CMC
Successful companies increasingly understand that sound corporate governance of both financial and non-financial factors—such as environmental and social issues—benefit their balance sheets and bottom lines. In other words, ESG issues are business issues, and vice versa. CMC is no exception.
We integrate our ESG and business strategies together as part of our aim to be the first choice for stakeholders, suppliers and contractors. Since our first day in operation, we have valued product stewardship and sustainability. We pay close attention to our impact on the world around us, and we look for new ways to strengthen our business while investing in innovations that yield greater efficiencies and environmental benefits.
Some of the important links between our business drivers and our ESG priorities include:
- Innovation, resulting in more efficient energy use, automation and new product offerings
- Investment, focusing on energy technologies, process improvements and training for our people
- Resource efficiency, reducing our costs by implementing circular economy principles, maximizing recycling and focusing on energy efficiency
- Managing risks across our enterprise, including many that directly relate to ESG, such as employee safety, compliance, supply chain governance and climate risks
Our robust recycling strategy, for instance, extends the useful lifecycle of metals by continuously circulating materials throughout the market and keeping them out of landfills. Our GHG emissions currently fall well below the iron and steel sector targets set by the Paris Climate Agreement. We have also established a plan to further reduce our energy consumption, GHG emissions and water withdrawal intensities by 2030, while increasing our use of renewable energy. These targeted reductions will keep us on track to remain one of the world’s most energy efficient and green steel manufacturers, while also reducing our costs and mitigating our business risks.
