BlueScope Steel’s sustainability initiatives show a commitment to responsible business practices that build long term environmental, social and economic value. Their sustainability initiatives have boosted revenue for the company as the future of steel production will be centred on breakthrough, green technologies.
BlueScope is a provider of innovative steel materials, products, systems and technologies headquartered here in Australia. The future of steel making will rely on hydrogen and electrolysis, an area BlueScope is pioneering.
Maintaining responsible products and supply chains is one of BlueScope’s five sustainability outcomes;
- Sustainable and enduring business
- Safe and inclusive workplaces
- Climate change action
- Responsible products and supply chains
- Strong communities
BlueScope has reported a 78 per cent increase in its half year profit, while announcing Gretta Stephens as Chief Executive for climate change within the group. Their data shows Australian earnings up 103 per cent, Asia and North America building products up 87 per cent and New Zealand and the Pacific up 300 per cent.
“In recent years we have built climate change into our corporate strategy, recognising that addressing climate change is essential to our long-term success and have publicly stated our commitment to taking action on carbon emissions,” BlueScope CEO Mark Vassella stated.
“We recognise that the future of iron and steelmaking will need to be centred around breakthrough technologies – once proven and scalable.”
The New South Wales Energy Minister, MP Matt Kean announced a $750 million government program at BlueScope that will help businesses develop low emission technologies.
Watch MP Matt Keans address on the Innovation and Investment Fund
BlueScope is currently the 15th largest corporate emitter. The fund will assist BlueScope steel with their sustainability initiatives to decarbonise their footprint while supporting jobs and growing the business.
Matt Kean noted that “this program will put New South Wales at the forefront of research and development in energy and sustainability initiatives, to help create the jobs of the future and drive a clean industrial revolution.”
Stakeholders are investing in companies like BlueScope for their commitment to sustainability initiatives, and in turn boosting the companies revenue.