CORPORATE LEADERSHIP

We adhere to the highest standards of corporate values and commitments- In order to create an ethical way of conducting business complying with all applicable laws, regulations and formal agreements.

Solb Steel has zero tolerance towards extortion, embezzlement, bribery, facilitation payments, Corruption and money laundering

Leadership and accountability

Our leadership team including board of directors and the top management have responsibilities for ensuring the values, policies and commitments are implemented at site.

Our leadership team, along with designated senior managers, is responsible for implementing the organization's values, policies, and commitments.

We have committees to oversee the functioning of the company’s values, Policies and commitments, on how well these are implemented in practice. The gaps are identified and corrective actions are taken to address these gaps.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE

Management systems

Solb Steel has a documented and effective management system or systems in place that:

Solb Steel has identified ESG risks and adverse impacts and includes management provisions to prevent and mitigate them.

Solb steel has a mechanism to monitor and achieve compliance with all applicable requirements of the company.

We have incorporated key performance indicators for the site’s main ESG risk and impact areas.

Responsible sourcing

Solb Steel has effective procedures in place to ensure that the site has implemented responsible sourcing commitments in its own procurement processes.

Legal compliance and signatory obligations

Solb steel has effective procedures in place to ensure that the company complies with applicable law and operates consistently with formal agreements.

Anti-corruption and transparency

Solb steel has an effective procedures in place to combat corruption.

Competence and awareness

Workers are competent and aware of their roles and responsibilities as specified within the Company’s management systems.

RESPONSIBLE SOURCING OF INPUT MATERIALS

Solb Steel is committed to responsible sourcing and we have incorporated it in key functions and processes

We have a public commitment to source increasing quantities of input materials from suppliers that operate responsibly and that the commitment is incorporated in key purchasing functions and processes

We Understand ESG risks and impacts of supply chains and promote improvement

The ESG risks and impacts associated with upstream input material supply chains are understood and an effective strategy for improvement is implemented as required.

Understand supplier ESG performance and promote improvement

The ESG performance of direct scrap suppliers and the risks related to the countries of scrap origin are increasingly understood and an effective strategy is developed to help improve performance.

Strengthen and account for responsible sourcing

Solb steel monitors Supplier performance while sourcing from suppliers who meet accepted ESG benchmarks increases over time.

Report publicly on responsible sourcing

Key information regarding the responsible sourcing of scrap is collected for validation.

Occupational Health And Safety

Occupational Health and safety management systems

Our site has an Occupational Health and Safety (OH&S) policy that recognizes the rights of workers and acknowledges the obligations of employers to protect the health and safety of workers. The site establishes, implements, maintains and continually improves its OH&S management system.

Leadership and worker engagement on Occupational Health and Safety

Our leadership is committed with respect to OH&S, trains and educates workers on OH&S-related matters on an ongoing basis and has an effective mechanism for worker engagement and participation in key OH&S decisions.

Support and compensation for work-related injuries or illness

We provide workers with support and compensation for work-related injuries or illness.

Safe and healthy workplaces

Our facilities, plants, infrastructure, workplaces, equipment and tools are safe and maintained in good working order.

Occupational Health and Safety performance

The site monitors and discloses key aspects of our OH&S performance and works to improve it over time.

Emergency preparedness and response

The site has identified and assessed emergency situations and has tested emergency preparedness and response processes in place to avoid and minimize the impact of accidental and emergency situations.

Labour Rights

Child and juvenile labor

Our facility does not use or tolerate child labor, we have mechanisms in place to effectively address any detected incidents of child labor, and cares for juvenile workers.

Forced or compulsory labor

Solb Steel does not use or tolerate forced or compulsory labor and effectively addresses any detected incidents of forced or compulsory labor.

Non-discrimination

The Company’s hiring decisions and employment relationships are based on the principle of equal opportunity and saudiazation, and actively prevent all forms of discrimination and promote workforce diversity and inclusion.

Hearing and addressing workers’ concerns

We ensures that workers’ concerns are resolved. Workers and their representatives can communicate openly and safely with management regarding working conditions.

Communication of terms of employment

We ensure that workers understand their current employment terms with regards to wages, working hours and other employment conditions.

Remuneration

Our Company pays workers fairly, regularly and on time, there are no inappropriate deductions from wages and overtime is rewarded.

Working time

Solb Steel complies with applicable law and industry standards on working time, overtime, public holidays and paid leave.

Human Rights

Human rights due diligence

Solb Steel acts diligently to avoid infringing on the rights of others and to address adverse human rights impacts.

Security practice

Solb Steel does not support public or private security providers engaged in illegal practices and works to ensure that security providers respect human rights/ Labour rights.

Conflict-affected and high-risk areas

Solb Steel does not contribute directly or indirectly to armed conflict, human rights abuses or risks for workers and communities in conflict-affected or high-risk areas.

Stakeholder Engagement And Communication

Stakeholder engagement

Solb Steel provides stakeholders with the means and opportunities to engage effectively on issues that matter to them.

Grievances and remediation of adverse impacts

Solb steel has a grievance mechanism to address concerns and engages in remediation where it has caused or contributed to adverse impacts.

Communicating to the public

Solb steel communicates on material social and environmental issues in a consistent and balanced manner, using methods that are appropriate to its stakeholders.

Local Communities

Commitment to local communities

Solb Steel is committed to respecting the health and safety, and the legal and customary rights and interests of local communities and supports their social and economic wellbeing.

Cultural heritage

Solb Steel respects and safeguards cultural heritage within its area of influence.

Free, Prior and Informed Consent (FPIC)

Where the site considers activities that might affect the rights of indigenous peoples, Solb steel obtains the peoples’ free and informed consent before carrying out such activities.

Climate Change And Greenhouse Gas Emissions

Commitment to achieve the Net zero GHG emissions

We are implementing a long- and medium-term strategy to reduce its greenhouse gas (GHG) emissions to levels that are compatible with achieving the goals of the Paris Agreement, with an aspiration to achieve net-zero GHG emissions through work with policymakers and others.

Determination of GHG emissions for the purpose of site-level GHG emissions reduction targets and planning

Solb Steel measures and records key aspects of its GHG emissions in accordance with a recognized international or regional standard.

Determination of site-level GHG emissions for the purpose of reporting GHG emissions intensity when producing crude steel

Solb Steel measures and records key aspects of its GHG emissions in accordance with the requirements of ISO 14064-3:2019.

Site-level GHG emissions reduction targets and planning

Solb steel has a medium-term GHG emissions reduction target and plan that is aligned with achieving the GHG emissions target(s).

GHG emissions disclosure and reporting

Key measures of the site’s GHG emissions performance are publicly disclosed.

Environment Management

Noise, Emissions, Effluents And Waste

Noise and vibration

Solb Steel implements plans to prevent and reduce adverse impacts from noise and vibration on communities or the environment.

Emissions to air

Solb Steel implements plans to reduce emissions to air that have adverse impacts on communities or the environment

Spills and leaks

Solb Steel works to effectively prevent, detect, mitigate and remedy spills and leaks that cause harm to the environment.

Waste, by-product and production residue management

Solb Steel applies the waste management hierarchy to reduce the impact of its waste and residues and takes account of full life cycle impacts to find the waste management option with the lowest environmental impact.

Water balance and Effluent Discharge for further treatment

Solb Steel measures the flow of water in and out of its site and the quality of its water withdrawals and discharges