Enablers act as catalysts for other aspects. The output of enablers defines the medium and long-term strategies/plan for other aspects of material issues, We at SSMI have a robust Sustainability Framework and the following enablers have been identified and included in the framework.
Assessment
Accountability
A dedicated group of people is continuously working on the above-mentioned enablers.
Life Cycle Assessment
A closer understanding of
our product life cycle
Today there is a strong need to understand the entire product and process life cycle to evaluate long-term environmental impact and performance, particularly for the steel industry due to its recyclability at end-of-life. We commissioned an Environmental Life Cycle Impact Assessment study of our products with Thinkstep's GaBi Software to help us examine our product life cycle more closely. We examined multiple parameters including our carbon footprint, resource consumption, apart from residues, by-products and water consumption.
How Life-cycle
Assessment helped us
Based on the development of the LCA model and Life Cycle Impact Assessment for significant environment impact categories, we were able to identify and categorize emission sources, boundaries and processes according to standard protocols such as ISO 14040 and ISO 14044. We had an estimation of section-wise benchmarks for technology from industry peers and learnt of reduction and improvement opportunities and recommendations. We have also performed Simulation Life Cycle for our business based on the future expansion plan and roadmap for F 21. This will be very helpful in understanding the future impact of business on the environment. Besides this, we also conducted Social Life Cycle Assessment at our value chain to understand the social aspects very closely.
Management Accountability
Journey (01)
Having adopted the 5th perspective of environmental and social aspects in our
Balanced Scorecard since 2011, SSMI has been focussing on embedding sustainability
into business strategy and establishing linkages with the financial, customer, internal
business processes, and learning a growth perspectives.
Strategy (02)
Sustainability is both a differentiator and a key driver to innovation, and we want to undertake a
collaborative journey with our customers, suppliers and employees towards sustainable development
and its success. This is how we will create medium & long-term value for our company and its
stakeholders. Our long-term goals will define the way forward and enable us to achieve our vision.
- Supply Best quality special steel in India
- Highly motivated group of employees
- Corporate Responsibility is woven in the business paradigm
- Superior financial returns
Approach (03)
We have designed a rolling 5 years' strategic sustainability roadmap that consists of our evidenced current
material issues along with potentially emerging material issues. The roadmap is further categorized to
identify 16 cross-functional teams a responsible leadership, connectivity with our Balanced Scorecard, Risks
and Opportunities, collaboration, training, projects and their execution framework, linkages to GRI
indicators and Global Goals. We have a detailed aspect document for each team. Over the years a robust
review and monitoring mechanism has been developed to ensure all sustainability goals and targets are
achieved and surpassed.
Sustainability
Framework (04)
It helps us to translate our sustainability vision to our core operations and manage our sustainable
development effort.
Safety
Commitment (05)
Our dedication to social sustainability emphasizes creating a safe work environment for our
workforce and surrounding communities. Our goal is Zero Harm, ensuring that everyone feels valued
and protected.
Overall Vision (06)
Our commitment to addressing climate change and promoting sustainable development is integral to
SSMl's long-term success and value creation for all stakeholders. We recognise the importance of our
actions in shaping a sustainable future and are devoted to integrating economic, environmental, and social
responsibility into our core strategy. By collaborating with stakeholders, we not only contribute to
combating climate change but also ensure the resilience and profitability of our operations.
The Way
Forward (07)
With the recent advances in technology implementation and empathy for responsible products and
consumption in all dimensions, we are confident of witnessing significant results in the future.
Together, we are proud to make a positive impact and contribute to carbon neutrality through the
production of "green steel."
