CARES
Climate Impact & Sustainability Data (2022-2023)
Reporting Period: 2022-2023
Environmental Metrics
Total Carbon Emissions:424 tCO2e (CARES own emissions)
Renewable Energy Share:100% (CARES office)
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Reduced Global Warming Potential (GWP) for scrap-based EAF steel production.
- Increased steel scrap recycled in approved products.
- Reduced waste to landfill and incineration.
Social Achievements
- Increased employee training hours.
- Launched a training scheme for the long-term unemployed (Thames Reinforcements).
Governance Achievements
- Implemented version 9 of the SCS scheme, including enhanced criteria related to science-based targets and TCFD reporting.
- Expanded EPD program, enabling more steel mills to obtain EN 15804 compliant EPD verification.
Climate Goals & Targets
Long-term Goals:
- Achieve Net-Zero emissions by 2050.
Medium-term Goals:
- Reduce GWP to 500 kg CO2e per tonne of carbon steel bar produced by 2030 (subject to review).
- Reduce CARES direct emissions by 50% by 2030.
Short-term Goals:
- Reduce GWP to 750 kg CO2e per tonne of carbon steel bar produced by 2025 (subject to review).
Environmental Challenges
- High levels of inflation and energy costs impacting building material prices.
- Difficulties with leak identification and operational changes limiting water use improvement.
- Market conditions and commercial decisions reducing the steel recycling rate.
- Considerable variation in Lost Time Injury Frequency Rates across approved producers.
Mitigation Strategies
- Developing digital assurance practices and enhancing risk-based auditing (CARESmart) to reduce auditor travel and costs.
- Building localized audit capacity to further reduce travel.
- Encouraging alternate travel modes and utilizing virtual meeting technologies.
- Promoting zero harm and implementing action plans agreed with enforcement authorities.
Supply Chain Management
Supplier Audits: 91.74% of key raw material suppliers evaluated for sustainability impact in 2022
Responsible Procurement
- CARES SCS scheme requirements
- Responsible sourcing policy
- Due diligence for higher tiers of supply network
Climate-Related Risks & Opportunities
Physical Risks
- Heat records, wildfires, flooding
Transition Risks
- Regulatory changes, market shifts
- Increasing demands for transparent, public reporting of material sustainability information
Opportunities
- Decarbonization through renewable electricity and improved process efficiency
Reporting Standards
Frameworks Used: GRI Standard 101, BS 8902:2009, TCFD, EN 15804, PAS 2080, ResponsibleSteel
Certifications: ISO 9001, ISO 14001, ISO 45001, UKAS
Third-party Assurance: BRE
UN Sustainable Development Goals
- Goal 7 (Affordable and clean energy)
- Goal 9 (Industry, innovation, and infrastructure)
- Goal 12 (Responsible consumption and production)
- Goal 13 (Climate action)
CARES' initiatives contribute to these goals through promoting sustainable steel production, traceability, and emissions reduction.
Sustainable Products & Innovation
- CARES Cloud digital traceability platform