SOCIAL
RESPONSIBLE SUPPLY CHAIN MANAGEMENT
ESG Training and Town Hall with External Stakeholder
Masteel hosted an ESG training and town hall meeting for our Suppliers/Contractors on 27th September 2023, at Hilton Hotel, Petaling Jaya. The training, titled “Environmental, Social, and Governance (ESG): The Ways Forward,” aimed to raise awareness and provide practical insights into ESG concepts and their potential implementation in the industry. The training was designed to equip participants from our Suppliers/Contractors with the knowledge and skills necessary to understand and integrate ESG principles into their operations, thereby contributing to global sustainable development efforts.
A total of 23 representatives from our Suppliers/Contractors, along with members of Masteel’s sustainability team, participated in this training program and town hall session. In addition to the training, the town hall platform facilitated discussions between Masteel and its Suppliers/Contractors on the challenges associated with implementing ESG programs and strategies for overcoming them within their respective organisations. This collaborative effort aimed to cultivate partnerships and promote sustainable business practices throughout the supply chain.
Masteel’s Corporate Green Awards 2023
Following our recent ESG training and townhall session, Masteel is excited to announce the launch of the Masteel Green Award 2023. This initiative is designed to encourage and recognize our Suppliers/Contractors for their commitment to sustainable business practices, particularly in reducing carbon footprints and enhancing environmental protection.
The award aims to highlight the importance of environmental stewardship and promote strong social engagement and governance within participating organisations. It’s an incentive for our partners to integrate sustainability deeply into their operations, aligning with Masteel’s broader ESG objectives.
A panel of experts will evaluate the Masteel Green Award, focusing exclusively on the applicants’ annual sustainability statements or reports. This rigorous assessment ensures that the award reflects genuine sustainability and corporate responsibility achievements.
In recognition of exceptional achievements in sustainability, Masteel is set to award five Suppliers/Contractors with a grand prize totaling RM100,000.00. This award underscores our commitment to sustainability and recognises our partners’ dedication to environmental and societal goals. The Masteel Green Award aims to foster sustainability excellence and encourage our network to embrace sustainable practices, reflecting our leadership in promoting environmental stewardship.
As a key figure in the local steel industry, we are committed to fostering a sustainable and ethical supply chain. This commitment aims to guarantee an uninterrupted flow of goods while maintaining high standards in ESG criteria. We actively advocate for our suppliers to adopt sustainable and responsible business practices. Furthermore, we prioritise supporting the local economy, with 93.54% of our suppliers based locally and only 6.46% from international sources.
Since 2022, we have sustained the implementation of ESG assessments for all our suppliers and contractors, integrating this evaluation into our supplier due diligence procedures. Committed to minimising the environmental impact of our steel manufacturing processes, we mandate a screening assessment for all suppliers and contractors prior to formalizing contracts with Masteel. This prerequisite ensures that every supplier and contractor aligns with Masteel’s environmental and ethical standards. The screening process encompasses five specific criteria, underscoring our comprehensive approach to upholding sustainability throughout our supply chain.