Ansteel

No leading practices were identified for this company.

No leading practices were identified for this company.

No leading practices were identified for this company.

No leading practices were identified for this company.

Ansteel lacks a low-carbon transition plan or climate strategy with financial estimations and associated costs. Moreover, the company does not disclose who bears ultimate responsibility for climate change issues or the related expertise of responsible parties. The company also does not disclose its revenues from low-carbon products, and there is no evidence to suggest that it is creating or expanding low-carbon business models or implementing actions to decarbonise activities within its existing business models. The company is recommended to establish targets and develop both short- and long-term action plans.

Ansteel has stated its intention to align with China’s decarbonisation goals but does not mention any specific timeline and emissions reduction targets. Nor does the company disclose enough emissions data to meaningfully assess its emissions intensity trend. Ansteel does not have any disclosure related to the promotion of low-carbon electricity in its operations or steelmaking processes. It is slowly integrating hydrogen technology in its steelmaking processes, particularly in its metallurgy, and is working on a hydrogen metallurgy demonstration project with clear targets and impacts to achieve both its climate goals and China’s ‘dual carbon’ goal  – reaching peak emissions by 2030 and carbon neutrality by 2060. Ansteel is also currently developing green hydrogen fluidised beds, but this is still in the early stages.

Ansteel recognises the importance of solid waste management and steel scrap recycling in its operations. The company has accounted for the cost reduction potential from scrap steel recycling at RMB 2.1 billion from 767,900 tonnes of recycled steel. However, it lacks well-defined commitments or targets with a specified timescale and a clear monitoring approach. Ansteel has not disclosed its research and development (R&D) expenditure in the last three years, nor has it provided quantitative data on its investment in low-carbon technologies.

Ansteel lacks both supplier and client engagement strategies to promote emissions reduction and the low-carbon transition. Moreover, the company lacks a policy for engaging with trade associations on climate change. The company should encourage emissions reduction by shifting demand towards low-carbon alternatives and implementing action plans. Additionally, it should consider publicly committing to the Paris Agreement and actively participating in initiatives to strengthen its commitment to emissions reduction.

Ansteel does not publicly disclose its emissions data and does not have emissions reduction targets for any of its scope 1, 2 or 3 emissions originating from its operations or its supply chain. The company has not developed a vision of what its business will look like in a low-carbon future.

Ansteel recognises that its operations are subject to the Chinese national and local environmental laws and regulations, including laws and regulations governing pollutant emissions and waste generation. But apart from this, the company has not taken any concrete actions towards achieving a low-carbon transition aligned with the Paris Agreement. Ansteel urgently needs to implement a low-carbon strategy that includes financial estimations and associated costs, as well as set out short- and long-term action plans.

Ansteel does not disclose any emissions intensity or absolute emissions data to analyse its emissions performance to date. There is also no evidence that the company has a strategy to engage its clients and suppliers to reduce emissions.

Ansteel does not provide information regarding its low-carbon capital expenditure and low-carbon mitigation R&D. The company also does not disclose whether it is creating or expanding low-carbon business models or implementing actions to decarbonise activities within its existing business models.

Ansteel does not have a transition plan and there is no evidence it intends to develop one in the near future.

No evidence was found of the company’s commitment to social dialogue or of the categories of stakeholders the company engages with on a just transition. Furthermore, no evidence was found to demonstrate the company’s ongoing social dialogue and meaningful engagement with affected stakeholders. No evidence was found of the company undertaking low-carbon transition planning to mitigate the social impacts of the transition on workers, affected stakeholders and its business relationships. Additionally, no evidence was found to demonstrate the company’s engagement in social dialogue and with stakeholders in its just transition planning.

No public commitment by the company was found stating its intention to create and support access to green and decent jobs as part of the low-carbon transition. Moreover, no evidence was found of the company’s actions to promote these jobs in a way that ensures gender balance and inclusion of vulnerable groups.
No relevant disclosure was found of the company’s assessment of employment dislocation risks. The company discloses its actions to provide training opportunities for workers and affected stakeholders. For instance, it has established 212 sets of competency models for employees, together with developing 71 courses and an integrated platform for skill enhancement. However, no relevant disclosure was found of the company embedding equality of opportunity for women and vulnerable groups in these actions. Furthermore, no evidence was found of the company having a process for identifying skills gaps for workers and affected stakeholders or a public commitment to help workers displaced by the transition to reskill or upskill.

No relevant disclosure was found to show if the company identifies the impacts of the low-carbon transition on social protection for workers and affected stakeholders, nor how it contributes to their social protection. Additionally, no evidence was found that the company expects its business relationships to contribute to the social protection of their workers and affected stakeholders.
No relevant disclosure was found to show how the company identifies any misalignment of its lobbying activities with policies and regulations that support the just transition, nor of the measures it takes to address misalignment. Furthermore, no evidence was found that the company lobbies for policies and regulations for green and decent job creation; retention, education and reskilling; and social protection for workers.

No company policies or commitments related to respect for human rights were found in the public domain. This includes the necessary policies and systems by which the company can ensure respect for basic human rights in its operations and supply chain.

The company discloses the gender of its workforce by employee category. However, no other evidence of the company’s policies or commitments related to key decent work issues was found in the public domain. These issues include the provision of safe, secure and healthy workplaces, where workers are fairly renumerated and have a meaningful say in decision-making.

No company policies or commitments related to key ethical business topics – personal data protection, tax, bribery and corruption, and lobbying and political engagement – were found in the public domain. This includes ensuring ethical business conduct throughout its operations and in its business relationships.