Tenaris’s annual Sustainability Report presents 31 key indicators to assess the company’s work on Safety, Health, Environment, Human Resources, Innovation, Community Relations and Financial Performance.
“In all our activities, we insist on integrity and transparency,” Paolo Rocca writes in the letter that opens the 52-page document. “This report sets out a series of indicators against which our performance on sustainability criteria can be measured over time and describes the objectives and actions we are taking to improve them.”
The report, now in its fourth edition, has been approved by the company’s Board as part of Tenaris’s annual reporting. It reflects how the company’s core values of safety, health, environment, quality and transparency guide the company’s daily activities, and presents the information in perspective, reporting three to five years back in all areas.
Tenaris generated and distributed economic value of USD 5.4 billion in 2017. Over the last five years, it allocated USD 4.3 billion to capital investments. In 2017, as the oil and gas market downturn subsided, the number of employees grew 13% to 21,605 people representing 82 nationalities. The company invested USD 9.5 million in community programs, 64% of them related to education and, more specifically, technical education.
The report also details the company’s efforts to minimize the environmental footprint of its operations. For example, Tenaris’s steel making sites achieved a reduction of 7% in their C02 intensity. It also describes the environmental benefits of Tenaris’s product developments, including Dopeless® technology, and how the company’s Rig Direct® service model integrates sustainability criteria. The company has invested USD 435 million in research and development over the last five years.