MATERIALITY
Matters that impact value creation
To understand the relevant topics that have a significant bearing on our ability to create value, we undertook a detailed materiality assessment process in FY 2018-19. The results of our assessment have been presented in our FY 2018-19 Integrated Report.
As a rapidly growing organisation, our material issues remain dynamic, and proactively sensing them and acting upon them have been the hallmarks of our success. Towards this purpose, in FY 2019-20, we revisited the list of our material matters and conducted a detailed peer analysis with the material issues of comparable global steel companies.
Strategic
M1 Capacity expansion – organic
M2 Capacity expansion – inorganic
M3 Market presence
M4 Raw material security
M5 Turnaround of non-performing units
M6 Innovation and R&D
M7 Diversified product portfolio
M8 Digitalisation
Financial
M9 Debt profile
M10 Diversified sources of funding
M11 Credit rating
M12 Profitability
M13 Liquidity and cash flow
Operational
M14 Operational efficiency
M15 Logistics efficiency and supply chain management
We also examined our compliance with those matters considered important by Worldsteel, of which we are an active member. Basing our conclusions on these and aligning them with our business imperatives and specific stakeholder requirements, we have identified a comprehensive list of material topics, presented here, under six broad themes. Together, they contribute to our strategy formulation process and in measuring our overall progress.
Internal boundary
External
Internal and external boundaries
Environmental
M16 Climate change
M17 Energy
Resources
M19 Water resource
M20 Waste
M21 Wastewater
M22 Air emissions
M23 Biodiversity
M24 Sustainable mining
M25 Local considerations
Social
M26 Indigenous people
M27 Cultural heritage
M28 Supply chain sustainability
M29 Social sustainability
M30
Occupational health,
safety and
well-being
M31 Employee learning and development
M32 Equal opportunities and diversity
M33 Labour and union relations
Governance
M34 Good governance and transparency
M35 Risk and crisis management
M36 Human rights
M37 Business ethics