ESG reporting in the steel industry

The rising importance of ESG in the steel industry

The steel industry is under increasing scrutiny for its environmental footprint, social impact, and governance practices. Major steel companies have started integrating ESG initiatives as a core part of their business strategy, recognizing that these efforts not only improve reputation but also drive long-term profitability and resilience.

With over 2,400 global ESG regulations, including the European Union’s recent Corporate Sustainability Reporting Directive (CSRD), the push for transparency and accountability in sustainability reporting is more urgent than ever. These regulations require detailed, auditable reporting on ESG factors, making compliance a strategic priority for companies aiming to stay competitive.

While small and medium enterprises (SMEs) like NTF are not yet directly subject to mandatory reporting, our partners and larger collaborators are. This shared responsibility has driven us to begin our ESG journey now, focusing on proactive steps to contribute relevant data and support a sustainable future.

NTF’s commitment to sustainability

At NTF, our approach to ESG is rooted in action and collaboration. Working primarily with steel – a material that is 100% recyclable – we are already aligned with key principles of the circular economy. However, we want to take this further by improving our practices, setting ambitious goals, and transparently documenting our progress.

Environmental responsibility

• Energy efficiency: We’re exploring ways to optimize our operations, reducing energy consumption in our production processes.
• Recycling: Leveraging the inherent recyclability of steel, we promote material reuse, minimizing waste and resource consumption.
• Emissions: We’ve started gathering data for Scope 1, 2, and 3 emissions for 2023 and 2024 to track and improve our environmental impact

Social impact

• Employee well-being: We prioritize workplace safety and create a culture of support for our employees.
• Partnership engagement: Collaborating with partners who face stringent sustainability requirements allows us to contribute to collective progress in the industry.

Governance leadership

• Transparent reporting: Although reporting isn’t mandatory for us yet, we are beginning to document key sustainability metrics.
• Ethical practices: We adhere to fair business practices, ensuring that our operations reflect integrity and responsibility.

Leading by example

At NTF, we believe that small companies can play a big role in fostering sustainability. Through collaboration, innovation, and transparency, we aim to help our partners meet their goals while proving that sustainable practices are achievable for companies of all sizes.

As we move forward, our commitment remains clear: to contribute meaningfully to a more sustainable steel industry, to support our partners in meeting their sustainability targets, and to demonstrate how responsible production can drive both environmental and business success. This is just the beginning, and we’re excited to share our progress as we work on our first official sustainability report.