“2021 was a milestone year for Viohalco companies as a comprehensive strategy was created to address all environmental, social and governance risks and measure our progress. Furthermore, our subsidiaries focused on increasing the share of secondary metals in the raw material input, as well as reduce operational carbon footprint to help their customers reach their own sustainability goals. “
Ippokratis Ioannis Stassinopoulos
Our Sustainability Strategy
In 2021, the Company established an Environment, Social and Governance strategy and a comprehensive framework within which all subsidiaries are required to operate. The strategy defines its short, medium and long term actions necessary to implement as related to all risks and opportunities and integrating all these matters into its business model.
Our sustainability strategy includes the adoption of seven (7) core company policies covering the entire framework of all environmental, social and governance matters. Each policy is thoroughly monitored by relative metrics, internal and external controls for adequate due diligence on important matters and regulatory compliance as well as appropriate governance measures to ensure transparency and accountability.
Furthermore, the sustainability strategy includes the obligation of the industrial subsidiaries to establish goals in strategic matters that include: (1) the gradual replacement of all electricity supply with Renewable Energy Sources (RES) as soon as technically and economically feasible; (2) the commitment to specific near and long-term carbon reduction targets on all carbon-intensive activities; (3) the evaluation of top tier suppliers on sustainability issues; and (4) the establishment of a five-year concrete, improvement action plan for health and safety for industrial companies.
Double materiality assessment
Double materiality assessment considers both the financial and non-financial impacts of a company’s activities, allowing for a more thorough evaluation of sustainability performance. The double materiality assessment has been performed on Viohalco subsidiaries split across five segments, including the largest production facilities in terms of revenue and personnel employed. The outcome of the double materiality assessment can be viewed in the next table.
The three ESG Pillars