Marian’s Sustainability Update – An IWD 2024 special

In this column, Marian D’Auria – GFG’s Head of Risk and Sustainability, takes a look at issues related to DEI (Diversity, Equity, Inclusion) as we commemorate International Women’s Day on 08 March. What does this mean for us across the organisation and industry and what role can we play in creating a more inclusive world?

This month it’s all about #IWD2024, and this year the United Nations has set the theme as “Investing in Women,” emphasizing the crucial role that women play in building resilient economies and creating a sustainable future. The steel industry, in particular, has witnessed the transformative impact of women, in the form of new innovation, showcasing the benefits that investment in women can deliver.

One prominent example is the work of Constance Tipper, a metallurgist, who conducted groundbreaking research on the resistance of metals to fracture. Her work in the 1930s led to the development of Monel metal, an alloy of nickel and copper widely used in the steel industry for its corrosion resistance. This invention revolutionized the production of corrosion-resistant steel and had a lasting impact on various industrial applications.

In more recent times, Dr. Veena Sahajwalla, an Australian materials scientist, has made significant contributions to the steel industry. She pioneered the development of “green steel” by utilising recycled materials, including electronic waste, in the steelmaking process. Her innovative approach not only addresses environmental concerns but also promotes sustainable practices within the industry.

Research shows the beneficial effect of investing in women more broadly:

•            According to McKinsey Global Institute, advancing women’s equality could add $12 trillion to       global GDP by 2025. Companies with more diverse teams are 33% more likely to outperform their industry counterparts.

•            A study by the Peterson Institute for International Economics found that having women in leadership positions is positively correlated with increased innovation.

•            The World Bank highlights that women tend to reinvest a higher percentage of their income in their families and communities, contributing to overall community development.

•            Investing in women’s education and healthcare has a profound impact on communities. UNICEF reports that educating girls leads to improved health outcomes for children and reduces maternal mortality rates.

•            The United Nations emphasizes that achieving gender equality is a critical factor in reaching all 17 Sustainable Development Goals (SDGs), contributing to a more sustainable and equitable world.

And what are we doing to mark the occasion?

Many of our sites and businesses will have local and ‘in person’ events but, as usual, the Global Women’s Network is hosting an online celebration just ahead of the official IWD and this year promises to be better than ever. We are very fortunate that Dave Scott, GM Culture & Performance, is going to run an I am Remarkable workshop for us on 5 March. [Click here to add to your diary]

#IamRemarkable started in 2016 as an internal Google initiative. Initially, it was focused on empowering women to talk more openly about their accomplishments in the workplace, and challenging the established gender modesty norms. Inspired by GFG’s drive to enhance Equality and Inclusion, and a personal commitment to actively demonstrate his allyship, Dave introduced the #IAmRemarkable initiative to GFG, after discovering it via contacts on LinkedIn.

All members of the GFG Alliance family are very welcome, you don’t have to identify as a woman to join, so please do forward the invitation to any of your team and encourage them to come along.

There is, as ever, a lot going on in the sustainability world, and more on that when normal service resumes next month. But I couldn’t send this out without a brief mention of the CSDDD saga in the EU:

The EU Corporate Sustainability Due Diligence Directive (CSDDD) aimed to introduce mandatory environmental and human rights due diligence obligations for companies operating within the EU. The proposal sought to ensure that businesses take responsibility for the impact of their operations on the environment and human rights throughout their supply chains.

Following the Free Democratic Party’s announcement in January that it would not support the EU Corporate Sustainability Due Diligence Directive (CSDDD), the law disappeared from agendas. Behind the scenes, Belgium, holding the rotating presidency of the European Council, has engaged in extensive negotiations with dissatisfied member states, notably Germany, regarding the current text. The directive is currently on the agenda for an EU member states meeting, while recent polling indicates substantial support for the CSDDD, particularly among Free Democratic Party voters. However, Germany is not expected to support the directive, leaving hope for other countries like Italy, Finland, and Lithuania. In a surprising twist, France has proposed increasing the employee threshold from 500 to 5,000, potentially exempting 80% of companies from the directive’s scope. The complex negotiations raise questions about the challenges in achieving consensus on sustainability legislation in the EU.

The outcome here will have implications for our businesses operating in the EU so watch this space, I hope to have more to report next month.

ESG Wins of the Month

This is a massive step towards achieving our CN30 ambition as GFG Alliance signed a landmark agreement with the South Australian Government to explore opportunities for the supply of hydrogen from its 250MW electrolyser in Whyalla to support the transformation to green iron and steel. Read more about this here Landmark deals signed at Whyalla operations – SPOKE (gfgalliance.com)c

Infrabuild HSE winners

InfraBuild has won a 2023 Australian Steel Institute (ASI) Steel Sustainability Award in the ‘Large Initiative Category’   This award is for the Road to Sustainability Through Good Health and Safety initiative.

They have been on a transformative journey to reshape the safety culture since 2020. While they have set ambitious targets to see injuries and incidents a thing of the past, it’s the behaviour and approach to safety that has been the most transformative. Read more here.

Out & About

Our Chief Capital Officer, Paul Altschwager, is at Smart Energy Week in Tokyo this week. He took to the stage to emphasise that there is no answer to combating climate change without a sustainable solution for steel, as he laid out our roadmap for decarbonising steel production.

Paul emphasised the vital role of partnerships in this green transformation and highlighted Whyalla’s exceptional potential to tap into the power of magnetite and green hydrogen, thanks to its rich natural resources and the ambitious efforts of the South Australian Government in constructing the world’s largest 250MW green hydrogen electrolyser.

Attendees at Smart Energy Week, were able to experience our VR and touchscreen and learn more about the green steel revolution.

What We’re Reading

All of the books from the book suggestions team members from across the world have sent in for #IWD2024. This one is my personal favourite but check them all out – there are some great and varied recommendations there – take a look here.