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    Company Profile


    • Chairman’s Message
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    • Regional Leadership in Steel Production
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    SUSTAINABILITY MANAGEMENT APPROACH


    • Message From Chairman
    • MD & CEO's Message
    • Sustainability Policy
    • Qatar Steel Highlights 2020
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    • Material Sustainability Issues
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    CREATING A BALANCED ECOSYSTEM


    • Responsible Sourcing And Material Consumption
    • Efficient Energy Usage
    • Reducing Emissions
    • Water Consumption and Effluents
    • By Product Management & Recycling
    • Biodiversity & Ecotoxicity

    APPENDICES


    • Reporting Scope and Boundaries
    • Maturity Assessment
    • GRI Content Index and IPIECA Index
    • Acronyms

    BUILDING THE FUTURE


    • Product Innovation And Operational Efficiency
    • Product Quality and Traceability
    • Customer Satisfaction

    DEVELOPING A HIGH PERFORMING
    AND MOTIVATED TEAM


    • Training and Development

    QATAR STEEL COMPANY FZE (Dubai, UAE)


    • Materiality & Maturity Assessment
    • Summary of Stakeholders Activities
    • Sustainability Performance Data
    • Reducing environmental impact

    ENSURING A SAFE AND HEALTHY WORK ENVIRONMENT


    • Employee Contractor Safety
    • Safety Governance
    • Safety Training
    • Emergency Response Preparedness
    • Occupational Health

    PRACTICE GOOD GOVERNANCE


    • Accountability and Ethics
    • Risk Management
    • Internal Audit

    Qatar Steel Company FZE


    • Lifecycle assessments
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    • Feedback/Complaints
    • QSFZE Sustainability Policy

    CONTRIBUTING TO NATIONAL GROWTH & DEVELOPMENT


    • Qatarization And Education Investment
    • Community Investment
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    ACHIEVING PROFITABLE GROWTH &
    BUSINESS PORTFOLIO


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  • Home
  • About Us
    • Chairman’s Message
    • MD & CEO’s Message
    • Vision, Mission and Values
    • Board of Directors
    • Regional Leadership in Steel Production
    • Our Production Facilities
    • Investment in Subsidiaries and Associates
    • Qatar Steel Memberships
    • History and Recognitions
  • Products
    • Our Main Products
    • Product Specifications
    • Product Quality
    • Product Innovation
    • Product Traceability
    • Sales and Marketing
  • Certificates
  • Sustainability
    • SUSTAINABILITY MANAGEMENTAPPROACH
      • Managing Director and Chief Executive Officer’s Message
      • Qatar Steel Highlights 2020
      • Sustainability framework
      • Material Sustainability Issues
      • Strategy Map
      • Sustainability Roadmap 2020
      • Qatar Steel Policy
    • Building the Future
      • Product Innovation and Operational Efficiency
      • Product Quality and Traceability
      • Customer Satisfaction
    • Contributing to National Growth & Development
      • Qatarization
      • Community Investment
      • Local Procurement
    • Creating a Balanced Ecosystem
      • Responsible Sourcing and Material Consumption
      • Efficient Energy Usage
      • Reducing Emissions
      • Water Consumption and Effluents
      • Waste Management and Recycling
      • Biodiversity and Ecotoxicity
    • Ensuring A Safe and Healthy Work Environment
      • AMAN Safety Transformation Program
      • Employee and Contractor Safety
      • Safety Training
      • Emergency Response Preparedness
      • Occupational Health
    • Developing a High Performing and Motivated Team
      • Training and Development
      • Employee Empowerment and Engagement
    • Practice Good Governance
      • Corporate Governance
      • Accountability and Ethics
      • Risk Management
    • Achieving Profitable Growth
    • ACHIEVING PROFITABLE GROWTH and BUSINESS PORTFOLIO
      • Financial Highlights (Consolidated)
      • Cost Optimization
    • Appendices
      • Reporting Scope and Boundary
      • Maturity Assessment
      • GRI Content Index and IPIECA Index
      • Acronyms
    • Qatar Steel Company FZE (Dubai, UAE)
      • ENGAGING WITH STAKEHOLDERS
      • Materiality & Maturity Assessment
      • Summary of Stakeholders Activities
      • Sustainability Performance Data
      • Reducing environmental impact. Decoupling growth from our environmental impact
      • Lifecycle assessments
      • Code of Ethics and Business Conducts
      • Feedback/Complaints
      • QSFZE Sustainability Policy
  • Customers
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Sustainability > Practice Good Governance > Risk Management

Risk Management

The ever-changing business environment presents with it risks and opportunities which should be systematically captured, coordinated and addressed. Qatar Steel acknowledges the effective management of risks and opportunities as one of the key business growth and success enablers that requires attention from all levels of the business and the related corporate governance structures.

The risk responses to the current COVID-19 pandemic, and the risks associated with Qatar Steel’s value chain, including but not limited to the supply chain processes and cyber security, have resulted in Qatar Steel’s resilience and continuous improvements to achieve the respective business objectives.

Qatar Steel’s integrated Enterprise Risk Management (ERM) framework and Business Continuity Management System (BCMS), has played a vital role in ensuring the identification and mitigation of key business risks through the regular reviews and updates across the entire company.

COVID-19 Crisis Management Response

In the event of a crisis, Qatar Steel has in place existing Crisis Management Procedures. In 2020, due to the COVID-19 pandemic, these Crisis Management Procedures were activated, and in accordance with the procedure, a Crisis Management Committee led by the MD & CEO as the Crisis Commander and comprising all Chiefs Officers, and Senior Managers, was put together very early on in February 2020. The Crisis Management Committee held weekly meetings and tracked progress on all key actions and activities on a daily basis. Qatar Steel also obtained considerable support from parent company Qatar Petroleum.

The purpose of the Crisis Management Committee was to ensure business continuity and resilience through:

  1. Ensuring the safety of all Qatar Steel’s employees, contractors and all visitors to our facilities;
  2. Ensuring operational continuity by focusing on supply chain pipeline for all key raw materials, key spare parts and sales orders and deliveries execution;
  3. Ensuring the continuity of production during statewide lockdowns and having in place a mitigation plan in case of possible employee unavailability due to COVID-19 infections;
  4. Ensuring that all departments were able to continue with their operations with minimal disruptions;
  5. Fast track of Qatar Steel’s Work from Home (WFH) policy and a possible State of Qatar Curfew readiness for all key support and administrative activities;
  6. Provision for employee wellness support;
  7. Arranging for the safe return to Qatar passage for key employees who had been stranded abroad.
  8. By taking mitigatory action at the onset of the pandemic, Qatar Steel managed to sustain its operations in the midst of the challenges brought about by the pandemic
  • Practice Good Governance
  • Corporate Governance
  • Accountability and Ethics
  • Internal Audit
  • Risk Management

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