As part of its annual reporting cycle, on April 30 Tenaris released the 2019 Sustainability Report. In its sixth edition, the report tracks long-term, sustainable development of the company in the areas of health and safety, environment, innovation, economic growth, human capital and community relations.
In 2019, Tenaris achieved a new milestone in safety, with the lost time injury rate reduced by 50% when compared to 2017. The steady improvement in safety performance was accompanied by a significant increase in employee training. Total training hours grew to 2.7 million in 2019, including both salaried and hourly employees.
Total economic value generated by Tenaris reached 7.4 billion USD, benefiting more than 10,177 local suppliers in sixteen countries. 4,734 individuals from small and medium enterprises gained valuable knowledge and new skills through Tenaris’s ProPymes program, which has been providing training and sharing best practices with SMEs since 2002.
And while economic growth is always a priority, Tenaris is keenly aware of industry’s impact on the environment and climate change and works to address both. The intensity of CO2 emissions – already among the lowest in the industry – was further reduced by 2% in 2019. Effective resource management contributed to 18% reduction in water withdrawal, 70% recycled content in steel, and 98.4% material efficiency at steelmaking sites.
The sustainability report also highlighted company’s commitment to partnership with local communities where it operates. In 2019, Tenaris invested 11.7 million USD in community programs, with focus on education. 27,594 people benefited from 8.1 million USD allocated to global and local education programs.
While the sustainability report covered performance in 2019, in his introduction Paolo Rocca, Chairman and CEO of Tenaris, also addressed the recent upheaval in the global economy and the oil & gas industry. “Over the next two years, the sustainability of our operations will be tested as never before. Our sales and our level of operations will be deeply affected, while the competitive environment in which we operate will be transformed in a way that today is difficult to anticipate,” noted Rocca. “In the long term, the world will resume a growth path, and the need for a reliable supply of energy will be essential for recovery.”
During the COVID-19 crisis, Tenaris is focused on minimizing the impact on its employees, customers and other stakeholders. The company is allocating six million USD to community-based action plans developed in close partnership with hospitals, emergency services and food banks to procure medical supplies and assist vulnerable populations.
To learn about Tenaris’s management plan to address the COVID-19 crisis, please visit https://www.tenaris.com/en/covid19/
The full copy of the report is available at https://www.tenaris.com/en/sustainability/
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