Rizhao Steel

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.

Rizhao Steel has not publicly disclosed emissions reduction targets for any of its scope 1, 2 or 3 emissions originating from its operations or its supply chain. Furthermore, the company has not publicly reported its emissions intensity data, including the emission intensity of purchased steel for its operations over the past 3-5 years. Nor has it provided total emissions and activity data necessary for emissions intensity calculations.

Rizhao Steel does not disclose whether it has board-level oversight of climate change, climate-related expertise or experience, or incentives for managing the low-carbon transition. Furthermore, there is no evidence that the company has a low-carbon transition plan. The company should establish a time-bound action plan that outlines how it will transition to a low-carbon economy. This should include medium- and long-term targets, verifiable and quantifiable key performance indicators and financial commitments. The plan should also be informed by scenario analysis to ensure its alignment with a 1.5°C pathway.

Rizhao Steel has not publicly disclosed emissions intensity data for its operations over the past 3-5 years, nor has it provided total emissions and activity data necessary for emissions intensity calculations. Furthermore, the company has not publicly reported its research and development (R&D) expenditure for the past three years. It also does not detail the extent or maturity of any of its existing interventions to reduce emissions for purchased products.

Rizhao Steel does not disclose supplier and client engagement policies. Moreover, there is no evidence that the company has recent and current activities in supplier and client engagement, and there is no disclosure available on the impact of such activities. Additionally, Rizhao Steel does not disclose whether it is a member of any trade associations that oppose climate-aligned activities, nor its policy on engagement with such associations. No evidence is presented regarding the existence of an action plan outlining company actions when alliances, associations, coalitions or think tanks of which it is a member, or to which it provides support, are found to oppose climate policies.

Rizhao Steel 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. Being in one of the most carbon-intensive industries, Rizhao Steel should immediately set targets aligned with the Paris Agreement.

Rizhao Steel has not taken any actions towards achieving a low-carbon transition aligned with the Paris Agreement. The company 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.

Rizhao Steel does not disclose any emissions intensity or absolute emissions data to analyse its emissions performance to date. Additionally, there is no evidence that the company has a strategy to engage its clients and suppliers to reduce emissions.

Rizhao Steel 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.

Rizhao Steel does not have a transition plan in place and there is no evidence it intends to develop one in the near future. Given its impact, it is crucial for the company to set out a transition plan to achieve a low-carbon transition within the industry.

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 action 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. Further, no public commitment by the company was found stating its intention to reskill and upskill workers displaced by the transition to a low-carbon economy. Additionally, no evidence was found that the company reskills and upskills workers in a way that ensures gender balance and inclusion of vulnerable groups.

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.

No 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.