Governance

SSAB’s Board of Directors is ultimately responsible for sustainability work, including the strategic management of risks and opportunities related to climate change. This also includes SSAB’s transformation to fossil-free steelmaking. For example, the Board of Directors approves the Code of Conduct, the sustainability strategy, and strategy and capital expenditure linked to the transformation to fossil-free steelmaking. The Board monitors the development of SSAB’s sustainability work at least on a quarterly basis, in particular the Group’s CO₂ emissions and safety work. As sustainability and climate issues are an integral part of SSAB’s business strategy, the Board does not have a separate sustainability committee. The Sustainability Report is reviewed in the Audit Committee as part of the Annual Report.

The Board of Directors monitors the development of the views of the most important stakeholders, primarily through the inclusion of employee representatives on the Board, but also through contact with, for example, shareholders, primarily in connection with the Annual General Meeting, as well as authorities and politicians. Otherwise, the Board has delegated the stakeholder dialogs to members of the Group Executive Committee, within each area of responsibility. The Board is informed as required or if major changes are made.

SSAB’s Group Executive Committee is responsible for developing the strategic direction for sustainability, including decisions on significant areas of sustainability, as well as managing risks and opportunities related to climate change. The Group Executive Committee regularly monitors the development of sustainability work. The Group Executive Committee is also responsible for ensuring that processes are in place to prevent, identify and address negative impacts on human rights that SSAB’s operations may cause or contribute to. Responsibility for sustainability work involves all members of the Group Executive Committee, and the CEO is ultimately responsible to the Board of Directors. SSAB has also various cross-functional management teams and councils dealing with sustainability issues. These are tasked with coordinating and supporting the Group’s sustainability work, for example regarding health and safety, environmental issues and business ethics.