Algoma Position Statement
Algoma released its ESG Position Statement in the first half of 2023. The ESG Position Statement describes the foundational role that Algoma’s ESG strategy plays in the Company’s transformation journey and overall corporate strategy, and how ESG practices are embedded into Algoma’s business model. The Statement outlines the Company’s ESG commitments and ESG framework, which include its guiding ESG principles.
Algoma 2024 ESG Report
Algoma Steel is proud to present its 2024 ESG Report. Given the significance ESG plays in the global steel industry, Algoma is committed to incorporating ESG factors into our core strategic objectives to ensure that we are generating value for our investors, employees, local communities, and suppliers and prioritizing long-term sustainability. The report sets out Algoma’s ESG strategy, approach to mitigating ESG risks and capturing ESG opportunities, and provides an update on the Company’s ESG performance.
Environmental
We strive to be an industry leader in environmental stewardship and climate change in Canada. Through our industry partnerships and our commitments to net-zero carbon emissions, we aim to enhance our leadership position in the industry’s transition to a low carbon economy. Through our EAF transformation and continuous innovation in our products and steelmaking processes, we are committed to further minimizing our impact on the environment.
Social
We are committed to achieving excellence in health and safety practices and institutionalizing a culture of safety both for our employees and communities. We aim to educate, train, develop, and engage our people, and foster a diverse, inclusive and equitable workforce. We also strive to generate shared value through our operations by continuously seeking opportunities to hire local employees and contractors, source materials responsibly and to engage, support, and partner with the communities in which we operate.
Governance
We are committed to ensuring sound governance practices and strong corporate leadership drives our ESG commitments and efforts in alignment with our investor and stakeholder interests and expectations. We strive for robust and effective oversight of our ESG strategy and practices and ensure continuous improvement in our governance structure and processes.