The strategic vision of Acerinox has always contributed to the sustainable development of the societies in which it has operated. This way of understanding the business from its origin has now been put into practice in a model based on the continuous search for an economic, social and environmental balance, generating real value for all stakeholders today while preserving the legacy for future generations.
This firm commitment from Senior Management to achieve economic objectives in the short-term, without neglecting the vocation towards sustainability over time, is being supported by the ambitious guidelines of the European Union related to its determination to commit to a Circular Industrialisation that offers sustainable products, such as stainless steel. In this connection, it is worth noting the following European initiatives launched in 2020, with which Acerinox is strengthened:
Sustainable Corporate Governance Directive project aimed at integrating sustainability into its management at the highest level in order to enhance responsible long-term investments that improve productivity and efficiency.
Circular Economy Action Plan that links competitiveness with sustainability by focusing on the processes that use recycled materials and manufacture durable and clean products that can be recycled at the end of their useful life. This action plan emphasises the importance of circularity as an essential requirement for achieving the climate neutrality target.
Acerinox has also kept pace with the new sustainability recommendations for listed companies of the Spanish National Securities Market Commission (CNMV). Thus, the creation of a Sustainability Department, which forms part of Senior Management, was reinforced in 2020 with the creation of a specific Sustainability Committee within the Board.
Based on these principles, work has been carried out throughout 2020 to prepare a Sustainability Plan to support and reinforce the business strategy, for the company to respond to social, environmental and good governance challenges, with a global vision, reducing risks and developing opportunities. This Plan has been called "Acerinox Positive Impact 360º", which has been approved by the Board of Directors, and defines a series of actions based on the five main pillars that contribute value to the "Excellence 360º" Plan, which are summarised below:
Ethical, responsible and transparent governance
Eco-efficiency and the fight against climate change
Circular economy and sustainable product
Committed team, culture, diversity and safety
Supply chain and impact on the community
For each of the pillars, lines of action and several actions to be developed have been established with a priority action plan for 2021-2023 and another plan for 2024-2025.
All this guarantees Acerinox's contribution to the Sustainable Development Goals of the 2030 Agenda and compliance with the 10 Principles of the United Nations Global Compact, as justified in the appendices.
Throughout this report, the various commitments of the Strategic Plan are articulated in chapters and the significant objectives already assumed by Senior Management are outlined. In summary, it is possible to affirm that these commitments allow the Group to be beside its customers when they need sustainable materials, in support of shareholders when they demand results, involved in the development of its professionals, committed to its suppliers and concerned about respect for the environment.