Our Sustainability


*The content on this webpage is sourced from Southern Steel Berhad's Annual Report 2024


Sustainability Framework

Sustainability Approach

The Group embarks on its journey towards long-term sound and sustainable growth by adopting this framework to further improve the Group’s culture and performance via operational excellence. As an integral part of the Group’s business strategies and decisions, we focus on continuous improvement to deliver the targeted operation outcome, care for safety and health to enhance moral, productivity and efficiency, observe corporate compliance to ensure business is conducted ethically and responsibly, elevate our range of green products as green initiative, increase engagement on issues related to climate change to assist in addressing global warming and develop our human capital for economic and social growth. The Group believes in the theme “Together we can do it”.

 

Sustainability Governance

The Board of Directors has oversight on sustainability and climate related matters of the Group. The Sustainability Steering Committee (“SSC”) assesses the potential impact of governance, environment, economic and social in the setting of sustainability and climate related goals. The SSC reviews the strategies and manages processes, initiatives, targets and performances in relation to sustainability and climate related matters while the Sustainability Working Committees (“SWC”) execute and report status of the initiatives. This fosters team culture, enabling the setting of integrity culture and overall accountability across the Group, along with building stakeholders’ trust on the ground that the Group is working towards delivering sustainable stakeholders’ value.

 

Governance Structure

The Group has a well-established governance led from the top, with clear accountabilities for continual implementation of sustainability initiatives with the objective of striving for sound and sustainable growth.

The Group’s SSC comprises senior Head of Department of the relevant operations and is chaired by the Group Managing Director (“GMD”), with the Chief Financial Officer as deputy. The GMD plays the role of the Chief Sustainability Officer, reporting directly to the Board on any sustainability matters. The SSC oversees the implementation of the Group’s sustainability initiatives and climate related strategies to ensure that key metrics targets are being monitored.

The SSC is assisted by the SWC comprising key staff from various departments of the operating companies nominated by the SSC. The SWC’s reporting duties include provision of information, collection of feedback from stakeholders, addressing material sustainability issues and driving initiatives approved by the SSC.




Stakeholder Engagement

The Group continues to emphasise that stakeholder engagement is a cornerstone of our sustainability strategy. We understand that our business operations have far-reaching effects on a diverse group of stakeholders, including customers, employees, shareholders, suppliers, communities and the environment. Consequently, we are committed to prioritising stakeholder engagement as a means to foster meaningful dialogue and collaboration, ensuring that we meet the needs and expectations of all our stakeholders.

Our stakeholder engagement process remains inclusive, transparent and responsive. We maintain regular communications with our stakeholders through various channels such as surveys, interviews, visits, meetings, town hall meetings and online platforms. These interactions enable us to gain valuable insights into the perspectives, concerns and aspirations of our stakeholders. Their feedback is instrumental in guiding our decision-making processes and driving our sustainability initiatives.

Materiality Assessment

Materiality Assessment

The Group continues its commitment to materiality assessments to ensure timely identification of key material issues and integrate them into our strategies effectively. Building upon the foundation laid in our previous assessment, the material issues discussed in this report are based on the review conducted by the Sustainability Steering Committee (“SSC”) of our most recent assessment in FY2022. The review’s findings are consistent with those of the previous year.

Our materiality assessment process remains robust, involving a comprehensive analysis of stakeholder perspectives gathered through surveys, meetings, email communications and dialogues. These insights are invaluable in prioritising efforts, allocating resources and monitoring progress. Our dedication to transparency and inclusivity in the materiality assessment underscores our commitment to sustainability and stakeholder engagement.


Materiality Analysis Process




Materiality Analysis Results



Alignment to the GRI Standard and United Nations’ SDG

Driving Sustainability through Global Reporting Initiative Standards and Sustainable Development Goals Alignment

The Group continues to align our sustainability initiatives with the Global Reporting Initiative (“GRI”) Standards and Sustainable Development Goals (“SDGs”), promoting transparency and accountability. By collaborating with stakeholders and leveraging these frameworks, we address global sustainability challenges and enhance our impact in environmental, social, economic and governance areas. Our commitment to these standards drives collective progress towards a sustainable future