Sidenor Corporate Report 2019

39 Our philosophy of work goes beyond the classical approach of focussing within the boundaries of our activity, and we extend this focus to the various stakeholders and throughout the entire chain of value, in the light of life cycle analysis. To this end, Sidenor became, in 2019, the first Spanish Company to have its own certified system to calculate the environmental footprint of its products. The EPD computer tool will help us assess the environmental impact of over 400 types of steel, as well as draft and verify the Environmental Product Declarations for each of them. In this way, we extend Sidenor’s traditional environmental evaluation to the products that we manufacture, focussing on their life cycle, that is, the impact they generate, from the extraction of raw materials necessary for their manufacture, use stage as well as intermediate transformation and production processes, to their disposal when they reach the end of their shelf life. This new assessment system considers five environmental impact categories, among which carbon footprint, as well as 12 indicators related to resource consumption and waste generation. We have endorsed the Circular Economy Compact promoted by the Spanish Ministries of Agriculture and Fisheries, Food and the Environment and of the Economy, Industry and Competitiveness aimed at involving the main economic and social players in Spain in the transition towards a new economic model. This initiatives aims to create a political framework to support the change to an efficient economy as concerns the use of resources and low carbon emissions to help us improve our economic results while reducing the use of resources, identifying and creating new economic growth opportunities and fostering innovation and competitiveness, ensuring supply security for essential resources, fighting climate change and limiting the environmental impacts of resource use. At Sidenor, we base the management of our business on this circular economy model and the lifecycle analysis of the products we manufacture, which helps us become more responsible and sustainable. Sidenor, first Spanish Company to certify its products environmental footprint calculation Focused on circular economy Medium-term objectives • Fighting climate change by reducing our CO 2 footprint and focusing our efforts on energy efficiency. • Manufacturing sustainable steel by incorporating the environmental factor in our product designs. • Integration with our environment by working more closely with interested parties.