Tenaris released its 2022 Sustainability Report, highlighting the company's achievements over the past year and its commitment to sustainability.
According to the report, 2022 was a record year for Tenaris, with sales growing by 80% to USD 11.8 billion, and net income rising to USD 2.5 billion, or 22% of net sales. The company also produced over 3.5 million tons of steel pipes worldwide and hired 6,500 new employees during the year.
This strong performance of 2022 was driven by Tenaris’s pillars of sustainability – health and safety, environment, innovation and supply chain, human resources, community relations and governance, ethics, and compliance. In addition, the company could leverage favorable market conditions, particularly in North America, and the efficient deployment of its global industrial system to generate strong increases in sales and margins through the year.
"An essential part of our role is to reduce the carbon emissions from our operations as quickly as technology and market conditions allow,” Paolo Rocca says in his opening letter, “We are making good progress towards our initial target of reducing the carbon emissions intensity of our operations by 30% by 2030 compared to a 2018 baseline." As Rocca explains, around 30% of Tenaris’s capex is now being directed to projects that will contribute to this target and other environmental objectives, such as the wind farm in Argentina, energy efficiency investments in Italy and Argentina and air quality improvements at the Koppel steel shop in the United States.
In addition to its efforts to reduce carbon emissions, Tenaris is also focused on strengthening its supply chain. According to Rocca, Tenaris is working to ensure that its supply chain is sustainable and resilient, to continue to deliver high-quality products and services to customers.
The company maintains safety as its core value for operations. With the increase in new hires during the post-pandemic ramp-up, especially in the United States, the company is emphasizing continuous preventive measures and reinforcing safety training for new employees. Tenaris has adopted a new cultural approach that focuses on sharing positive "learning opportunities" rather than issuing "behavior observations.”
Tenaris's commitment continues strong in its role of supporting local communities. "The sustainability of our operations worldwide depends on the support and development of our local communities,” Rocca adds, “Safety and care for the environment are paramount, as is support for employee and community development. Given its essential role in progress and development, we have put education at the core of our community activities."
To read more about Tenaris’s commitment, actions, and performance, click here and access the 2022 Sustainability Report.