- Corporate Governance
The challenges of COVID-19 and climate change are profoundly changing the way businesses operate and what stakeholders expect of them.
We must build back better, ready to succeed in a zero-carbon and circular economy. And we must help our partners and communities do the same so as to create a fairer, more resilient and sustainable society.
To do so, we are embedding sustainability into our business: our purpose, culture and business processes. We aim to be a valued employer, a preferred business partner and a trusted member of our communities. As the global leader in refractories, we aim to lead the industry in sustainability, too.
We focus on the sustainability challenges that are most material to us and our stakeholders. To identify these, we listen and learn from a wide range of stakeholders.
In addition to COVID-19, these material issues include:
For each of these issues, we are working towards ambitious 2025 targets. We report our progress each year in our Annual Report.
We also continue work on other issues including: anti-bribery and corruption, sustainable supply chain, human rights, forests and biodiversity, water usage and community investment.
Sustainability needs to be led from the top. We therefore have a dedicated Board sustainability committee that regularly reviews our progress.
This Board committee, our CEO and Executive Management Team are regularly updated by our Sustainability Steering Committee, the senior management body responsible for driving sustainability across our business.
Standards and Reporting
As a participant in the UN Global Compact, we must support the UN Sustainable Development Goals (SDGs) and implement the Global Compact’s ten principles.
We aim to report our progress transparently. To do so, we follow leading sustainability standards and frameworks. We make annual climate submissions to the CDP, most recently gaining a B rating. In addition, we are a supporter of the Taskforce on Climate-related Financial Disclosures (TCFD). The risks of climate change are discussed in more detail in our TCFD report which is consistent with the TCFD Recommendations and Recommended Disclosures and is published separately to the Annual Report due to its length, on the Group’s website: www.rhimagnesita.com/energy-andclimate/.
Each year, we report our progress on gender diversity to the Hampton-Alexander Review. Additionally, In 2021 we completed our first submission on ethnic diversity to the Parker Review.
The company’s integrated management system covers environment (ISO 14001), energy efficiency (ISO 50001), occupational health and safety (ISO 45001) and quality (ISO 9001).
This report, together with a GRI Content Index, comprise our GRI Report. This report was prepared in accordance with the GRI Standards (Core option). In addition, it serves as our Communication on Progress to the UN Global Compact (self-assessed as Active) and we show how we contribute to the UN Sustainable Development Goals (SDGs) in the GRI Index.