On October 15, 2024, Worthington Steel unveiled its 2024 Corporate Citizenship and Sustainability Report, detailing the company’s performance and key initiatives throughout the fiscal year. This inaugural report as a public entity underscores Worthington Steel's longstanding dedication to sustainability, rooted in nearly 70 years of industry experience. The report can be accessed through the company’s website, allowing stakeholders to engage with its progress in critical areas like environmental stewardship, safety, community engagement, and corporate governance.
Geoff Gilmore, President and CEO of Worthington Steel, expressed pride in the company’s achievements, stating, “While it’s our first report as a public company, the concepts and values around sustainability are not new to us.” This reflects a deep-seated commitment to a people-first philosophy, guiding the firm’s strategies towards enhancing environmental, social, and governance practices. Gilmore emphasized the company’s unique position to lead the steel processing industry towards a more sustainable future.
One of the report's standout highlights is Worthington Steel's impressive safety record, achieving a rate that is 1.9 times better than the industry average in the Primary Metal Manufacturing category, as reported by the U.S. Bureau of Labor Statistics. This accomplishment illustrates the company’s rigorous focus on workplace safety and employee well-being, ensuring that its workforce operates in a secure environment.
In terms of environmental impact, Worthington Steel has made significant strides in reducing its waste footprint. The company successfully diverted 98% of its generated waste away from landfills, demonstrating a proactive approach to waste management and resource conservation. Additionally, the report notes a decrease in Scope 1 and 2 greenhouse gas emissions intensity to 0.02 metric tons of carbon dioxide equivalent per metric ton processed, marking a 2% reduction from the previous fiscal year. This decline indicates the company’s commitment to lowering its emissions and promoting cleaner production methods.
Community support is another critical area where Worthington Steel has excelled. Through the Worthington Companies Foundation, the company contributed $3 million to 73 organizations focusing on health, human services, education, and civic initiatives. This investment not only strengthens community ties but also reflects the company’s belief in social responsibility and its role in enhancing the quality of life in the regions it operates.
Employee development remains a cornerstone of Worthington Steel’s strategy. In the past year, employees completed a remarkable 65,000 hours of training, averaging more than 25 hours per employee. This commitment to continuous learning ensures that the workforce is equipped with the skills necessary to adapt to evolving industry demands and contribute to the company’s long-term success.
Furthermore, Worthington Steel has made significant strides in supporting diverse suppliers, increasing its spending by 17% over the past two fiscal years. This commitment to inclusivity not only fosters a more equitable business environment but also enhances the company's supply chain resilience by tapping into a wider array of resources and perspectives.
The 2024 Corporate Citizenship and Sustainability Report was developed in alignment with various recognized frameworks, including the Global Reporting Initiative Standards and the Sustainability Accounting Standards Board Iron & Steel Producers Standard. By adhering to these guidelines, Worthington Steel ensures transparency and accountability in its sustainability efforts, allowing stakeholders to gauge the company’s performance effectively.
As Worthington Steel continues to embrace its people-first philosophy and commitment to sustainability, it stands poised to play a significant role in shaping the future of the steel processing industry. The achievements highlighted in this report not only reflect the company’s current successes but also lay a solid foundation for its ongoing journey towards a more sustainable and responsible operational model.
