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Materiality & Maturity Assessment

Our materiality assessment helps us to understand which issues are important to the business and our stakeholders, and therefore where and how to focus our engagement. By defining the needs and interests of our stakeholders, we can also evolve our strategy to better meet their expectations and focus our reporting on the issues that they care about.

Maturity matrix

Qatar Steel Company FZE Maturity Matrix
Principles and Practices Charateristices of the approach to sustianability in developing
organization Observations 		Observations
Maturity
Immature Adequately Engaged Full Engagement
Inclusivity Stakeholder engagement and issue identification No issues identification Issues that create competetive advantage are addressed and used for
publicity 		Relationships with stakeholders nurtured through continued engagement
and issues are clearly addressed.
  1. Engaged with local authorities to ensure compliance with all
    applicable external regulations & requirements.
  2. Continual engagement of employees through satisfaction surveys and a
    code of ethics that helps the management in identifying their main
    concerns.
  3. Annual stakeholder mapping for identifying channels of engagement,
    main concerns, and responses to them.
  4. Development of Stakeholder Advisory Group comprising representatives
    from key stakeholders to act as an advisory body is in process, and
    developed internal governance structures for effective engagement.
  5. Qatar Steel actively gathers feedback on its sustainability
    reporting and its performance through a form available on the
    website from all stakeholders.
  6. Certified for CARES, DCL, ISO 9001, ISO 14001, ISO 45001
    certifications. New certification from MoIAT secured in Oct 2024 as
    per mandatory requirement of the Federal Government.
Integrity Key Drivers Reactive driven by regulatroy, Shareholder and /or investor pressures
and cost/return decisions. 		Sustainable Development part of reputation/risk management Proacive Planning and seeking out opportunities
  1. Engaged with local authorities to ensure compliance with all applicable external regulations & requirements and managed and reported correctly. OFC renewed for 2024-2025.
  2. Environmental Management Program is in place to ensure compliance with all applicable regulations.
  3. Qatar Steel has integrated sustainability in its corporate strategy and has implemented a sustainability roadmap that identifies opportunities/risks associated, which is quarterly reviewed in Balance Card meetings.
  4. An integrated Enterprise Risk Management (ERM) framework is in place to manage business risk.
  5. To further enhance business resiliency, Qatar Steel established a comprehensive Business Continuity Management System.
Leadership Adhere to atleast one sustainabe standard Stay appraised of changes in practice, standards and legislation. Lead the market sector on sustianable issues.
Sustianable development
policy and objectives integrated with organizationsl purpose, vision and
values.
  1. Adhered to UK CARES Quality and Operations Assessment Schedule, ISO 9001, and Product Certifications.
  2. Sustainable policy and objectives developed through the management system are in place. Additionally, there is a well-developed sustainability framework and commitments.
  3. Maintains certificates for sustainability and responsible sourcing BES 6001.
Managing Risk Compliance by book Main risks identified and managed but possibly not integrated with
sustainable development management system 		Sustinable development policies fully integrated with risk management
system
Seek to adhere to the principles of risk management rather
than simply do the minimum compliance
  1. Adopted EMS complying with ISO 14001 and Health & Safety to ISO 45001.
  2. Adopted a comprehensive ERM framework for mitigating the various risks to which the business is exposed in the course of their operations and strategic actions.
  3. Risk Management policy & management system are in place. Top risks are reviewed and reported at the Top Management level every month (Risk Management Committee).
  4. KPIs are in place through mandate to reduce the residual risks of existing risks with a medium-high rating.
Stewardship Sustinable Development Culture See Sustanable development as a PR issue only.
Only implement
sustianble developmnet initiatives with low cost/impact 		See business advantge in sustinable development but still PR/marketing
focused.
Develop internal/external education program 		Culture of sustinable development is embeded at all levels.
Share
know how outside the organization
  1. Culture of sustainable development is fully integrated at all levels. Sustainability objectives are well integrated at the departmental level, and their performance is being monitored through the balanced scorecard system.
  2. Sustainability team in place that works as focal points for their departments, linking departmental sustainability objectives with the organizational roadmap.
  3. Qatar Steel has a dedicated budget for community development.
Building Capacity Grant employees statutory only Stimulate innovative learning and empower employees Continual reapprasial and training including training that builds
capacity for future expansion.
Recognise and reward innovatiion in
sustinable development. 		Training plan including theortical and practical training regarding
quality, environment, H&S and Sustainability is in place. In 2024
Training carried out for Sustainability reporting; Business Continuity
Management audit; Supplier pre qualification and evaluation; online
stake holder satisfaction survey; ISO Gap analysis; House of Quality by
DQG
Procurement Lowest Prices and Latest possible payment Supplier rating based on technical compliance, cost and delivery time
and possibly sustainable development factors 		Recognise that the supply chain has common longterm interests and take
those into account
Assistance given to lower tiers where necessary 		Suppliers are selected baased on technical compliance, cost, delivery
time, environment, safety and human rights performance criteria. Further
developments on this are expected in the coming year.
Environment Assessment Minimal awarness
Defensive posture		 Education and Training
Apply environmental policies and standards 		Comprehensive environmental impact/risk, audit integrated in decision
making and valued.
Prevention rather than cure approach
  1. Qatar Steel conducts EMS, HSE, and sustainability materiality assessments on an annual basis to identify key issues for stakeholders.
  2. Dedicated Risk Management functions that also investigate environmental risks in the organization and communicate them to the board level through the audit committee.
Transparency Review Conventional reporting only Needs if stakeholders analysed. Periodic review and adjustment
  1. Management review meeting is undertaken annually, and objectives/targets are set to reflect continual improvement as part of Sustainability Management.
  2. Reporting on the progress of sustainability is part of the corporate balanced scorecard. Each department is integrating sustainability performance in its objectives with targets.
  3. Qatar Steel is in the process of preparing Sustainability Reporting, which will provide a transparent channel of its sustainability performance to its stakeholders.
Building Confidence Minimal communication with stakeholders Selective reporting to predetermined ends Stakeholders receving regular and appropriate reporting
Building
understanding in the stakeholder community
  1. Development of Stakeholder Advisory Group comprising representatives from key stakeholders to act as an advisory body is in process, and developed internal governance structure for effective engagement.
  2. Qatar Steel is in the process of gathering feedback on its sustainability reporting and its performance through a form available on the website from all stakeholders.
  3. Qatar Steel Code of Ethics and Business Conduct reaffirms its commitment to the highest ethical and legal principles of accountability, excellence, fairness, honesty, and respect.

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RECOGNITIONS

  • Applus
  • CARES
  • CARES
  • ISO 6935-2
  • CARES
  • ISO 14001:2004
  • SAAR