Small, sporadic, piecemeal and local initiatives are important, but they are not enough on their own and are often weakened when embedded in a competitive context of business activity, nationally or internationally.
In the aluminum industry, the establishment of the Aluminum Stewardship Initiative (ASI), provides the coherent framework where producers, users and participants in the aluminum value cycle commit to its responsible production, supply and management, undertaking the " cost' and highlighting sustainability as a priority. The benefit is twofold: the adoption of a green development model in practice and a practical and dynamic response to society's demand to take meaningful actions for sustainable development and environmental protection against climate change.
Elval's ESG strategy as adapted through the implementation of the ASI Performance Standard provides a complete, coherent and structured program for integrating sustainability criteria into the corporate governance model it applies. It covers all its activities and more specifically:
Corporate Governance, with tools for good management, protection against corruption, legislative compliance in every aspect of its activity, taking care of reporting and investigating complaints, formulating and implementing ESG policies, programs to reduce environmental footprint of its products and the development of environmentally friendly products and solutions, the implementation of a recycling strategy and actions for the collection of aluminum products at the end of their life cycle.
Environmental Protection, with tangible, measurable and implementable plans for the reduction of greenhouse gas emissions, the rational management of emissions and waste, the rational use of water and the protection of water resources and the protection of biodiversity.
Social Responsibility, with an emphasis on the Company's practices but also evaluating its supply chain in the protection of Human Rights, the avoidance of discrimination, the defense of women's rights and labor rights and the promotion of the safety and health of its employees, visitors and stakeholders company.
The design of the ASI Performance Standard was done through the cooperation of all Elval departments/Directorates and the consultation and cooperation in the implementation and application with all employees. The implementation of its forecasts is done daily through the expanded participation of employees (e.g. implementation of corporate policies, participation in volunteering programs, submission of improvement proposals in ESG issues, etc.). The evaluation of effectiveness is done with the participation of internal and external stakeholders, in an innovative and open process where, among other things:
- Representatives of the local community, customers, suppliers and other stakeholders report their experiences of Elval's performance to the Certification Body, without the Company's knowledge or involvement
- Employees answer questions about every aspect of their working relationship with Elval, in "closed interviews", without the knowledge or involvement of the Company.
Thus, Elval's certification receives an expanded assessment, both in terms of its practices and its impact on its stakeholders.
The ESG (Environment, Social, Governance) strategy according to the ASI Performance Standard is a dynamic model that is constantly evolving. At its heart is the requirement for continuous improvement, targeting and taking action to achieve these goals and this requires further continuous adjustments. Consequently, the monitoring of performance by internal and external stakeholders and the periodic inspection by an independent body reinforces the Company's commitment in this direction.
In a broader context, Elval, always a pioneer in the application of innovative ideas and practices, through its participation in the International Initiative for Responsible Aluminum Management, and the consequent certification of its ESG strategy, aims to be a model for other companies in the value chain ( value chain) of aluminum, in Greece and the markets in which it operates. The adoption of the principles of sustainable development through the implementation of the most demanding sustainability standard combined with the connection it provides to all branches of the aluminum supply and value chain is expected to be the dominant trend in responsible aluminum production and shape the way the material is produced, traded, recycled and reused, based on the principles of the circular economy. The activation of as many companies in the sector as possible will strengthen the cumulative benefit of the use of aluminum in dealing with climate change and in this, the active participation of Elval is a given.