Sustainability

For us, sustainability is a prerequisite for Sustainable Development and also a factor in achieving stability and success. The implementation of responsible operating practices is our strategic choice, emphasising and focusing our attention over time on material issues and crucial pillars of corporate responsibility. We strive for a target of zero incidents by constantly improving our workplace while also taking care of minimising our environmental footprint. We build long-term relationships of trust with our customers and partners and we are always on their side supporting the needs of the local communities where we operate.
 
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Sustainability at Elval

 

Sustainability is at the heart of our corporate culture, our values and business strategy. We are dedicated to operate responsibly in all our business activities with aim to continuous improvement. Our strategy is based on a sustainable business model and our sustainability work is focused to creating value for all of our stakeholders.
The vision we are implementing each and every day is to respect the principles of Sustainable Development (economic prosperity, environmental protection and social cohesion). We invest in our people and we are committed to implementing responsible working practices. We operate in a way that is safe for our people and respectful to the environment. We behave responsibly and with care for local communities. Our approach to Sustainability is defined in our Sustainability policy. We report our sustainability progress on an annual basis.
 

 

 

 

 

 

Sustainability policy

Elval and its subsidiaries have incorporated the principles of sustainability in their business operations, thus recognising that their long-term growth and prosperity of society at large can only be achieved through sustainable development.
Concern for employee health and safety, respect and protection of the environment, comprehensive coverage of customer needs and harmonious coexistence with the local communities in which they operate are the main issues of Sustainability of Elval and its subsidiaries.
Sustainability policy of Elval is in accordance with the company's values of responsibility, integrity, transparency, effectiveness and innovation and is determined by the management, which is committed to the following issues:
  • implementation of the sustainability policy at all levels and in all the company’s operating entities.
  • strict compliance to the  legislation in force and full implementation of standards, policies, internal guidelines and procedures applied by the company as well as other commitments, arising from voluntary agreements, countersigned and accepted by Elval
  • two-way and on-going communication with all stakeholders in order to identify and record their needs and expectations. Development of mutual trust relations with the stakeholders makes a significant contribution to meeting the sustainability objectives.
  • providing safe and healthy working environment for our people, partners and any third party involved.
  • protection of human rights and provision of a work environment of equal opportunities, free from any discrimination.
  • open communication, based on transparency, with all the company's stakeholders.
  • continuing efforts to reduce the environmental footprint, though implementing responsible actions and preventive measures in accordance with Best Available Techniques, in order to reduce and minimize the impact of the company's operations on the environment. 
  • cooperation and support of local society aiming to contribute to the sustainable development of the local communities in which we operate.
  • continual pursuit of creating added value for the stakeholders.
In order to realise the aforementioned commitments - even beyond formal compliance with the legislation in force - the company voluntarily and responsibly has been planning and implementing the relative programmes, while, at the same time, setting strategic priorities, which focus on the following areas of sustainability of Elval :

1. Economic growth and corporate governance: The company aims to achieve positive financial results, implements a system of sound corporate governance, assesses and manages business risks in order to safeguard the interests of the stakeholders. It develops procedures and takes measures both to enhance transparency and to prevent and combat corruption.
 
2. Marketplace: The company focuses on achieving best and complete customer satisfaction and invests in research and development in order to provide new products and solutions of high quality and added value, thereby improving its position in an ever-evolving business environment. Additionally, responsible business conduct is required to be practiced by the company’s suppliers and partners
 
3. Human resources – Occupational health and safety: The company respects and supports internationally- recognised human rights and implements fair reward, meritocracy and equal opportunities policies in respect of all its employees, free from any discrimination and with respect to its personnel diversity. It also provides opportunities for human resources development through ongoing training and continuous appraisal.  
A healthy and safe working environment is a matter of primary importance to the company. The company continually takes measures and implements investment plans, aiming at continuous improvement of health and safety at work.  
 
4. Environment: Concerning environmental management, Elval  applies the principle of prevention and takes systematic steps to minimize the impact of its operations on the environment. Aiming at environmental protection, the company implements targeted programs for optimal management of resources, promotes metal recycling and implementation of energy efficiency measures, reduction of carbon emissions and sound waste management practices.
Elval aims its business development to be environmentally responsible and in this context continually invests in environmental friendly measures.      
 
5. Local community: The company stands by the side of its local community and responds with sensitivity to matters of its concern building up a close relationship based on dialogue and cooperation.    The Company designs and implements actions to meet the fundamental needs of society in terms of employment, development, education, health, environment, social welfare and culture. It encourages volunteerism and supports initiatives, in order to develop the local community.  

In respect of all the above key issues concerning Elval and its subsidiaries, we set targets of sustainability, which are annually assessed for their effectiveness and revised when deemed necessary.
The relevant policy, the results of Elval performance as regards sustainability issues, as well as the implementation of programmes and achieving the objectives set, are disclosed, on an annual basis, in order to keep all stakeholders informed.
The opinions and view of the stakeholders are taken into account under an annually-held management review of all the above issues.
 
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Sustainability management

At Elval, sustainability issues are managed by the corporate responsibility team, which has been specifically set up for that purpose. The corporate responsibility team consists of staff representing various Elval divisions, and a head of corporate responsibility has been appointed, who is responsible for coordinating the team and briefing the Elval’s management team about these matters.
Elval's general managers convey important sustainability issues to the board of directors in their quarterly reports, which cover the entire range of our operations. The board of directors also briefs shareholders about Elval's material sustainability issues.
 

Creating value

The incorporation of responsibility practices in the way we operate leads to the creation of value for all parties connected with Elval: employees, customers, shareholders, suppliers, the local community and the wider society.
Strongly focusing on the principles of sustainable development (economic prosperity, environmental protection and social prosperity), we operate responsibly across the entire spectrum of our activities, as a reliable business partner.
 

Material issues

Elval carries out a materiality analysis, a specific process in accordance with international standards, in order to identify the most material sustainability aspects of its operations.
 
This procedure is repeated at regular intervals to capture any changes and to incorporate any new trends.
Elval’s material sustainability issues that emerged through the procedure of materiality analysis applied, are presented below.
 

 

Sustainability axis
Material / Important aspects
Economic viability
  • Financial performance (1)
  • Compliance with legislation and standards (5)
Environmental protection
  • Waste management (3)
  • Proper use / energy saving (4)
  • Rational management of raw materials (6)
  • Gas emission management (7)
  • Proper use / water saving (8)
  • Environmental protection expenditures (10)
  • Assessment of suppliers’ environmental profile (15)
  • Promotion of recycling (18)
Social welfare
  • Health and Safety of employees and others (2)
  • Human Resource Training (9)
  • Work assurance (11)
  • End user health and safety (12)
  • Proper labelling of products (13)
  • Assessment of suppliers’ work practices (14)
  • Combating corruption (16)
  • Respect / protection of human rights (17)
  • Equal employee development opportunities (18)
  • Promoting transparency (19)
  • Dialogue with local communities (20)
 

 

Communication with stakeholders    

 

 

We take our stakeholders’ view into serious account

We regularly engage with our stakeholders to understand the sustainability issues that are of interest to them and important to our business. Consultations with stakeholders seek to boost transparency and force strong relations built on trust and partnership with all our stakeholder groups. Following a specific procedure, we have placed stakeholders in the following two categories:
•    Key stakeholders (who are of critical importance for Elval)
•    Secondary stakeholders (who are affected by Elval decisions and activities).
 
We monitor and record the main issues and expectations resulting from the dialogue with each stakeholder group. The main issues of the dialogue with each stakeholder group are points on which we focus our actions and activities in order to improve our performance. In our Sustainability reports we present an overview of the dialogue and communication between Elval and its stakeholders.