Since our last formal materiality assessment was conducted in 2021, CMC continues to review our material issues annually to confirm applicability. We regularly engage leadership across our businesses as well as our customers and investors to better understand the key sustainability issues relating to our company and the industry.
Our approach to stakeholder engagement ensures that we align our sustainability strategy with evolving stakeholder expectations, industry best practices and known business risks.
This report details our efforts to manage our nine sustainability topics, which were verified by CMC’s Executive Leadership Team and Sustainability Leadership Council. We also discuss other matters that we have created practices and programs for and believe are significant.
These include the following:
| Sustainability Issue | Description | Report Location |
|---|---|---|
| Sustainability Oversight |
Ensuring that sustainability matters are effectively managed within the overall structure and governance of the company. |
ESG at CMC |
| Responsible Advocacy |
Engaging with governments and organizations to promote informed public policy, ensuring memberships in industry |
Corporate Governance |
| Environmental Compliance+ |
Ensuring compliance with environmental laws and regulations across the jurisdictions within which we operate. This includes matters relating to air quality, waste management and water protection, as well as responding to clean-up and remedial action requirements under applicable laws. |
Environmental |
| Climate Change |
Identifying and managing CMC’s risks related to climate change as they relate to current and future operations, including asset planning, capital allocation and development; mitigating CMC’s exposure to potential costs linked to carbon pricing and regulatory caps. |
Environmental |
| Greenhouse Gas Emissions* |
Tracking CO2 and other GHG emissions from CMC's operations, setting companywide GHG reduction targets, and monitoring progress against the targets. |
Environmental |
| Energy |
Reducing energy consumption through management and efficiency initiatives, including both process improvements and capital investments, and adopting and investing in renewable energy sources, such as solar and wind. |
Environmental |
| Product Stewardship |
Assessing and improving the sustainability of our products throughout their lifecycles in support of a circular economy by sourcing raw material sustainably, increasing the use of recycled content and sustainable materials and decreasing the use of hazardous chemicals. |
Overview |
| Health & Safety |
Providing safe working conditions through the implementation of a robust occupational health and safety management system, processes for hazard identification and incident investigation and provision of safety training, needed PPE and wellness programs/support. |
Social |
| Talent Management |
Cultivating a strong workforce and talent pipeline through robust employee recruitment and engagement practices, reinforcing our core values of dignity and respect through ongoing training and support, providing competitive benefits and supporting employees with opportunities to develop and grow their careers. |
Social |
Items marked with a ‘+’ in the table above are addressed in our 2023 Annual Report (Form 10-K), Part I, Item 1: Business, Environmental Matters, which addresses the specific risks relating to environmental compliance.