Materiality & Maturity Assessment

Our materiality assessment helps us to understand which issues are important to the business and our stakeholders, and therefore where and how to focus our engagement. By defining the needs and interests of our stakeholders, we can also evolve our strategy to better meet their expectations and focus our reporting on the issues that they care about.

Maturity matrix

Qatar Steel Company FZE Maturity Matrix
Principles and Practices		Charateristices of the approach to sustianability in developing organization Observations			Observations
		Maturity
		Immature	Adequately Engaged	Full Engagement
Inclusivity	Stakeholder engagement and issue identification	No issues identification	Issues that create competetive advantage are addressed and used for publicity	Relationships with stakeholders nurtured through continued engagement and issues are clearly addressed.	Engaged with local authorities to ensure compliance with all applicable external regulations & requirements. Continual engagement of employees through satisfaction surveys and a code of ethics that helps the management in identifying their main concerns. Annual stakeholder mapping for identifying channels of engagement, main concerns, and responses to them. Development of Stakeholder Advisory Group comprising representatives from key stakeholders to act as an advisory body is in process, and developed internal governance structures for effective engagement. Qatar Steel actively gathers feedback on its sustainability reporting and its performance through a form available on the website from all stakeholders. Certified for CARES, DCL, ISO 9001, ISO 14001, ISO 45001 certifications. New certification from MoIAT secured in Oct 2024 as per mandatory requirement of the Federal Government.
Integrity	Key Drivers	Reactive driven by regulatroy, Shareholder and /or investor pressures and cost/return decisions.	Sustainable Development part of reputation/risk management	Proacive Planning and seeking out opportunities	Engaged with local authorities to ensure compliance with all applicable external regulations & requirements and managed and reported correctly. OFC renewed for 2024-2025. Environmental Management Program is in place to ensure compliance with all applicable regulations. Qatar Steel has integrated sustainability in its corporate strategy and has implemented a sustainability roadmap that identifies opportunities/risks associated, which is quarterly reviewed in Balance Card meetings. An integrated Enterprise Risk Management (ERM) framework is in place to manage business risk. To further enhance business resiliency, Qatar Steel established a comprehensive Business Continuity Management System.
	Leadership	Adhere to atleast one sustainabe standard	Stay appraised of changes in practice, standards and legislation.	Lead the market sector on sustianable issues. Sustianable development policy and objectives integrated with organizationsl purpose, vision and values.	Adhered to UK CARES Quality and Operations Assessment Schedule, ISO 9001, and Product Certifications. Sustainable policy and objectives developed through the management system are in place. Additionally, there is a well-developed sustainability framework and commitments. Maintains certificates for sustainability and responsible sourcing BES 6001.
	Managing Risk	Compliance by book	Main risks identified and managed but possibly not integrated with sustainable development management system	Sustinable development policies fully integrated with risk management system Seek to adhere to the principles of risk management rather than simply do the minimum compliance	Adopted EMS complying with ISO 14001 and Health & Safety to ISO 45001. Adopted a comprehensive ERM framework for mitigating the various risks to which the business is exposed in the course of their operations and strategic actions. Risk Management policy & management system are in place. Top risks are reviewed and reported at the Top Management level every month (Risk Management Committee). KPIs are in place through mandate to reduce the residual risks of existing risks with a medium-high rating.
Stewardship	Sustinable Development Culture	See Sustanable development as a PR issue only. Only implement sustianble developmnet initiatives with low cost/impact	See business advantge in sustinable development but still PR/marketing focused. Develop internal/external education program	Culture of sustinable development is embeded at all levels. Share know how outside the organization	Culture of sustainable development is fully integrated at all levels. Sustainability objectives are well integrated at the departmental level, and their performance is being monitored through the balanced scorecard system. Sustainability team in place that works as focal points for their departments, linking departmental sustainability objectives with the organizational roadmap. Qatar Steel has a dedicated budget for community development.
	Building Capacity	Grant employees statutory only	Stimulate innovative learning and empower employees	Continual reapprasial and training including training that builds capacity for future expansion. Recognise and reward innovatiion in sustinable development.	Training plan including theortical and practical training regarding quality, environment, H&S and Sustainability is in place. In 2024 Training carried out for Sustainability reporting; Business Continuity Management audit; Supplier pre qualification and evaluation; online stake holder satisfaction survey; ISO Gap analysis; House of Quality by DQG
	Procurement	Lowest Prices and Latest possible payment	Supplier rating based on technical compliance, cost and delivery time and possibly sustainable development factors	Recognise that the supply chain has common longterm interests and take those into account Assistance given to lower tiers where necessary	Suppliers are selected baased on technical compliance, cost, delivery time, environment, safety and human rights performance criteria. Further developments on this are expected in the coming year.
	Environment Assessment	Minimal awarness Defensive posture	Education and Training Apply environmental policies and standards	Comprehensive environmental impact/risk, audit integrated in decision making and valued. Prevention rather than cure approach	Qatar Steel conducts EMS, HSE, and sustainability materiality assessments on an annual basis to identify key issues for stakeholders. Dedicated Risk Management functions that also investigate environmental risks in the organization and communicate them to the board level through the audit committee.
Transparency	Review	Conventional reporting only	Needs if stakeholders analysed.	Periodic review and adjustment	Management review meeting is undertaken annually, and objectives/targets are set to reflect continual improvement as part of Sustainability Management. Reporting on the progress of sustainability is part of the corporate balanced scorecard. Each department is integrating sustainability performance in its objectives with targets. Qatar Steel is in the process of preparing Sustainability Reporting, which will provide a transparent channel of its sustainability performance to its stakeholders.
Transparency	Building Confidence	Minimal communication with stakeholders	Selective reporting to predetermined ends	Stakeholders receving regular and appropriate reporting Building understanding in the stakeholder community	Development of Stakeholder Advisory Group comprising representatives from key stakeholders to act as an advisory body is in process, and developed internal governance structure for effective engagement. Qatar Steel is in the process of gathering feedback on its sustainability reporting and its performance through a form available on the website from all stakeholders. Qatar Steel Code of Ethics and Business Conduct reaffirms its commitment to the highest ethical and legal principles of accountability, excellence, fairness, honesty, and respect.