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AK Steel Holding, Alcoa, Aleris International, Allegheny AK Steel Holding, Alcoa, Aleris I n t e r n a t i o n a l , A l l e g h e n y Technologies, Aluminum Corp. of 2010 Sustainability Reporting of the World's China, ArcelorMittal, Baosteel Largest Metals Companies Group, Carpenter Technology, Pacific Sustainability Index Scores: A benchmarking tool for online sustainability reporting C e n t u r y A l u m i n u m , C h i n a Minmetals, Commercial Metals, Evraz Group, Gerdau, Hebei Iron and Steel Group, Heraeus Holding, JFE Holdings, Jiangsu Shagang Group, Kobe Steel, Nippon Steel, Nucor, Posco, Schnitzer Steel Industries, SeverStal, Sinosteel, S t e e l D y n a m i c s , T a t a S t e e l , ThyssenKrupp, United States J.E. Morhardt, Elgeritte Adidjaja, Juliet Marie Archer, Leah Bross, William Brown, Carolyn Campbell, Jaclyn T. D'Arcy, Whitney Ellen Dawson, Karen de Wolski, Karina Gomez, Aleksandr Grabovskiy, Bukola Steel,WorthingtonJimoh, Eric Robert King, Danielle L. Manning, Michael Tran Nguyentat, Industries Caitrin Elise O'Brien, Allison Scott, Aisha Shaikh, Michael Handler Shoemaker, and Jennifer Katelyn Ward Contents The Roberts Environmental Center has been the foremost analyst of corporate sustainability reporting for over a Topics Page decade. We analyze corporate online disclosure using our Company Rankings 3 Pacific Sustainability Index (PSI) and publish the results online. Lead Analyst’s Commentary 4 PSI Overview 5 Industrial Sector** 2 2 2 2 2 2 2 PSI Scoring in a Nutshell 6 0 0 0 0 0 0 0 Environmental Intent Topics 7 0 0 0 0 0 0 1 Environmental Reporting Topics 8 4 5 6 7 8 9 0 Social Intent Topics 9 Aerospace and defense X X Airlines X X Social Reporting Topics 10 Banks, Insurance X Environmental Intent Element of the PSI Scores 11 Chemicals X X X Environmental Reporting Element of the PSI 12 Largest Companies in China X Scores Colleges/Universities X1 Social Intent Element of the PSI Scores 13 Computer, Office Equipment, X Social Reporting Element of the PSI Scores 14 and Services Environmental Intent Scores Ranking 15 Consumer Food, Food X X Production, & Beverages Environmental Reporting Scores Ranking 16 Electronics and X X X Environmental Performance Scores Ranking 17 Semiconductors * * Social Intent Scores Ranking 18 Energy X X X Social Reporting Scores Ranking 19 Entertainment X Food Services X Social Performance Scores Ranking 20 Forest and Paper Products X X X Human Rights Reporting Element 21 General Merchandiser X PSI Scores Average by Countries 22 Homebuilders X Visual Cluster Analysis 23 Industrial and Farm X X Relationship between PSI Scores and Revenue 24 Equipment and Profit Mail, Freight, & Shipping X Medical Products & X Company Rankings Based on the Number of 26 Equipment Goals Reported Metals X* X X Company Rankings Based on the Better 27 Mining, Crude Oil X* X X Performance Reported Motor Vehicle and Parts X X X Oil and Gas Equipment X Companies Rankings Based on the Number of 29 Petroleum and Refining X X X Topics in which Performance is Better than Pharmaceuticals X X X X Sector Average Scientific, Photo, & Control X Analyst’s Comments, alphabetically listed by 30 Equipment company name Telecommunications, X Appendix: PSI Questionnaire 59 Network, & Peripherals Utilities, Gas, and Electric X* X* X Questions should be addressed to: * Multiple-sector category was separated in later years. **As of March 2010. Dr. J. Emil Morhardt, Director 1 Top 50 Liberal Art Colleges. ([email protected]) Roberts Environmental Center Claremont McKenna College 925 N. Mills Ave. Claremont, CA 91711-5916, USA Direct line: (909) 621-8190 Elgeritte Adidjaja, Research Fellow: (909) 621-8698 ([email protected]) Departmental secretaries: (909) 621-8298 The goal of corporate report analysis conducted by the Roberts Environmental Center is to acquaint students with environmental and social issues facing the world’s industries, and the ways in which industry approaches and resolves these issues. The data presented in this report were collected by student research assistants and a research fellow at the Roberts Environmental Center. Copyright 2010 © by J. Emil Morhardt. All rights reserved. www.roberts.cmc.edu 1 Metals Sector Metals Sector Corporate Environmental and Sustainability Reporting Company Rankings Overall Grade A+ Alcoa (USA) Alcoa 48.42 A- Tata Steel (India) T ata Steel 39.68 B+ Nippon Steel (Japan) Nippon Steel 37.45 B+ Posco (South Korea) B Sinosteel (China) Posco 37.37 B Gerdau (Brazil) Sinosteel 33.03 B Kobe Steel (Japan) Gerdau 32.72 B- ArcelorMittal (Luxembourg) B- Baosteel Group (China) Kobe Steel 32.18 B- JFE Holdings (Japan) ArcelorMittal 29.56 C+ United States Steel (USA) Baosteel Group 26.75 C+ Schnitzer Steel Industries (USA) JFE Holdings 26.48 C Allegheny Technologies (USA) C- ThyssenKrupp (Germany) United States Steel 25.02 C- Nucor (USA) Schnitzer Steel Industries 22.71 D+ Evraz Group (Russia) Allegheny Technologies 19.09 D+ Aluminum Corp. of China (China) ThyssenKrupp 17.24 D+ Carpenter Technology (USA) D+ Worthington Industries (USA) Nucor 15.17 D+ Heraeus Holding (Germany) Evraz Group 13.82 D+ SeverStal (USA) Aluminum Corp. of China 13.78 D Aleris International (USA) Carpenter Technology 11.43 D Commercial Metals (USA) D AK Steel Holding (USA) Worthington Industries 11.09 D- Century Aluminum (USA) Heraeus Holding 10.78 F Steel Dynamics (USA) SeverStal 10.24 F Jiangsu Shagang Group (China) F Hebei Iron and Steel Group (China) Aleris International 8.97 F China Minmetals (China) Commercial Metals 7.58 AK Steel Holding 6.35 Century Aluminum 3.93 Steel Dynamics 1.77 Jiangsu Shagang Group 0.00 Hebei Iron and Steel Group 0.00 China Minmetals 0.00 0 25 50 75 100 This report is an analysis of the voluntary environmental and social reporting of companies on the Metals Metals sector lists. Data were collected from corporate websites during the initial analysis period (dates shown below). A draft sector report was then made available online and letters were sent to all companies inviting them to review the analysis, to identify anything missed by our analysts, and to post additional material on their websites if they wished to improve their scores. Analysis Period: 12/8/2009through 1/29/2010 Draft sector report available for review: 5/7/2010through 6/7/2010 www.roberts.cmc.edu 2 Metals Sector Lead Analyst’s Commentary The tables below illustrate the overall scores of By Elgeritte Adidjaja, Research Fellow companies listed in the Fortune list (n=112) and of those listed in Forbes lists (n=80.) Sustainability reporting in the metals sector is subpar compared to the other extractive sectors— Average scores (in percent of maximum possible petroleum refining and mining, crude-oil production— score) of extractive companies grouped using the analyzed within the same period. This might be a result Fortune sector classification: of the companies in this sector being higher up in the Sector Overall Overall Overall supply chain than companies in the other sectors; better PSI Environmental Social reporting scores are more common for companies Scores Scores Scores whose products are likely to be known to end Petroleum consumers. As an example, scores of motor vehicle Refining (n = companies are always higher than those of automotive 53) 23.40 18.48 27.91 parts companies. Mining, Furthermore, companies in some sectors respond Crude-Oil to our draft report by putting more information on their Production (n websites so that we can increase their scores. This was = 34) 28.94 25.74 34.72 particularly true in the petroleum refining sector, and Metals (n = less so in the mining sector. Only one company in the 29) 18.71 13.42 25.92 metals sector responded to our notification of the availability of our draft, but made no efforts to improve Average scores (in percent of maximum possible score) of the same companies grouped using the Forbes its scores. One could conclude that companies in the metals sector care less about their sustainability image sector classification: than those in other extractive sectors. Sector Overall Overall Overall Not all companies are in agreement with the PSI Environmental Social sector classification imposed by the Fortune lists that Scores Scores Scores we have used for years to group companies for Oil & Gas analysis. For example, in our correspondence with Operations(n=53) 29.55 25.98 35.15 Israel Corporation (analyzed in our petroleum refining Materials (n=22) 30.42 26.28 35.51 sector report), we learned that only 5 percent of their Diversified revenue comes from petroleum refining and 81 percent Financials (n=2) 2.21 1.75 2.92 is derived from fertilizers and chemical operations. The Trading company therefore requested (reasonably enough) to Companies (n=1) 0 0 0 be excluded from our petroleum sector report, but we Metal declined in order to be consistent in our methodology. Fabrication (n=1) 8.97 5.68 13.32 Apparently, Fortune has also heard such complaints, Conglomerates because their latest Global 500 list avoids the issue by (n=1) 17.24 8.30 28.69 no longer assigning companies to industrial sectors at all. We have studiously avoided making such From this, it looks like the first two Forbes sectors assignments ourselves because we do not wish to be in (Oil & Gas Operations and Materials) are more a position to determine which company comes out on appropriate for the companies whose business is top by adjusting our selection criteria. Fortune’s move is “really” extraction. Three companies in the Metals going to force us to switch to another external sector would have been excluded under Forbes’ categorizing entity list, probably that of Forbes, although classification: China Minmetals (Score: F, Forbes this may not solve the problem.
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