Nippon Steel’s ESG Materiality
Nippon Steel recognizes that sustainability initiatives are one of the important issues and form the base that supports the very existence and growth of the company.
Among the initiatives, the issues to be focused by taking into account our shareholders’ expectations and our Corporate Philosophy, Values, and growth strategy have been identified as materiality (priority issues).
Nippon Steel Corporation Group will pursue world-leading technologies and manufacturing capabilities, and contribute to society by providing excellent products and services.
- We continue to emphasize the importance of integrity and reliability in our actions.
- We provide products and services that benefit society, and grow in partnership with our customers.
- We pursue world-leading technologies and manufacturing capabilities.
- We continually anticipate and address future changes, innovate from within, and pursue unending progress.
- We develop and bring out the best in our people to make our Group rich with energy and enthusiasm.
Nippon Steel Group’s Values
Paying every possible attention to critical matters of safety, environment, disaster prevention,
quality, and compliance is basic to our existence as a responsible manufacturing company that delivers excellent products and services.
The development of excellent personnel is a prerequisite for our production of excellent products.
Nippon Steel Group’s Contribution to SDGs
In keeping with our dedication to the Nippon Steel Group’s pursuit of world-leading technologies and manufacturing capabilities, and to contribute to society by providing excellent products and services, we have taken up numerous challenges in order to play an important role supporting social infrastructure through steelmaking. We firmly believe that contributing to the development of a sustainable society through our group’s initiatives will also work for achievement of the United Nations’ 2030 Agenda for Sustainable Development, featuring Sustainable Development Goals (SDGs)
Nippon Steel’s ESG Materiality
- Safety, environment, and disaster prevention
- Safety and health
Promotion of climate control measures
Contribution to construction of a circular economy
Promotion of environmental risk management
- Disaster prevention
- Quality control and guarantee
- R&D and intellectual property management
- Solution that result in customer satisfaction
- Stable production and supply
- Human resources, and diversity & inclusion
- Respect for human rights
- Diversity & inclusion
- Human resource development
- Harmony with local communities and society
- Environmental preservation/creation activities in communities
- Activities mainly in the support of education, sports, and arts
- Corporate value enhancement and profit distribution
- Securing of profit and enhancement of corporate value
- Profit distribution
- Thorough implementation of compliance
- Adhering to laws and regulations as a base of all activities
Process to identify materiality
- Consider requests from stakeholders on environmental, social issues and listing candidate issues
- Generalize the issues in due consideration of the company’s corporate philosophy and values
- Verify the issues from the viewpoint of the company’s value creation process and strategy
- Discuss and approve issues in the Board of Directors meeting
Nippon Steel’s Materiality
In consideration of our stakeholders’ expectations, we have defined the materiality based on the following principles. We believe that tackling these materiality issues will contribute to the achievement of the United Nations’ 2030 Agenda for Sustainable Development, featuring Sustainable Development Goals (SDGs).
Materiality with due consideration of the corporate philosophy and priorities in manufacturing
Our Corporate Philosophy (Our Values) states: “The Nippon Steel Corporation Group will pursue world-leading technologies and manufacturing capabilities, and contribute to society by providing excellent products and services.”
Concerning “provision of excellent products and services,” our critical mission as a responsible manufacturing company is to reliably produce and deliver quality products that satisfy customers. Needless to say, the prerequisites to enable this mission include “safety, environment, and disaster prevention” as well as thorough compliance to rules and regulations.
The “world-leading technologies and manufacturing capabilities” are realized by our human capital. Securing and fostering of outstanding personnel is an important challenge to be overcome in order to strengthen overall manufacturing capabilities. We firmly believe that respect for human rights and diversity & inclusion, as well as promotion of physical and mental wellness strength are the basics for our employees to work vigorously.
With regard to the relationship with society, we must maintain good relationship with the community where our steelworks or other facilities are located. This is indispensable for us to continue operating business in the future. We are pledged to operate in an environmentally-friendly manner and maintain good communication with local communities, as a corporate citizen.
Materiality with due consideration of the company’s value creating process and potential changes in business environment
A base of our value creation process is to use a diverse range of financial/ non-financial assets and competitive advantages, and to provide products and solutions to customers. In order to reproduce such processes, stable production and continual profit generation are indispensable.
In addition, having positioned environmental matters as priority issues that underlie our corporate management, we have pledged to contribute to the creation of a society oriented toward environmental conservation and with low environmental impact. We have also been engaged in building of a circular economy through reduction of CO2 emissions by the three “Eco” initiatives and innovative technology development, and recycling of industrial waste (such as plastics).
Concerning the climate change problems that affect the survival of humanity, we are making efforts aimed at carbon neutrality by 2050 from two aspects: Provision of high-performance steel products and solutions to reduce CO2 emission of the society as a whole, and breakthrough technology development to decarbonize steelmaking processes.
Corporate value enhancement and profit distribution
We are committed to continuing operations as a sustainably growing company by generating profit and raising corporate value from business activities, including sustainability initiatives. We will also contribute to society by providing excellent products and services, and distributing profit to employees, government, shareholders, and other stakeholders.
As a responsible leading company, we thoroughly adhere to laws and regulations, which is fundamental to all of our activities. It should be achieved by our independent efforts, based on our corporate philosophy, value, code of conduct and alike.