Actions to address climate change and initiatives to further evolve its product portfolio and to integrate digitalization across its business are detailed in Tenaris’s 2021 Sustainability Report.
The company’s strong performance of 2021 was driven by its pillars of sustainability – health and safety, environment, innovation and supply chain, human resources, community relations and governance, ethics, and compliance – and was further strengthened by medium-term targets Tenaris announced to reduce its carbon emissions.
“We are progressing on the road map we set out to reduce the carbon emissions intensity of our operations in line with our 2030 target,” said Tenaris Chairman & CEO Paolo Rocca, in the report’s opening letter, commenting on the $190M Board approved investment to build a wind farm in Argentina, which will supply close to 50% of the electric energy requirements of its mill Siderca, and reduce carbon emissions. “We are also preparing for the energy transition through developing materials and products for low-carbon energy applications.”
Tenaris has been expanding its product technology and enhancing its portfolio for energy transition projects, including the development of material technology, THera™ ,for hydrogen storage systems, as well as carbon capture utilization and usage and geothermal solutions.
The company’s long-term vision for a sustainable business has always considered its communities, where it continues to invest, $14.5M in 2021, for growth and development, and its employees. Health and well-being remain central and core to Tenaris’s new way of working, post pandemic, having incorporated actions conducive to a greater work-life balance, underscored by an ongoing redesign of its corporate and industrial workspaces across its global footprint.
In 2021, Tenaris generated and distributed an economic value of $6.7B. It allocated $240M to capital expenditure projects and $45M in research and development.
To read more about Tenaris’s commitment, actions, and performance, click here to read its 2021 Sustainability Report.