The sustainability strategy of a metallurgical company in the context of digitalization

Russian Presidential Academy of National Economy and Public Administration, Saint-Petersburg, Russia

^* Corresponding author: lizaveta-90@yandex.ru

Abstract

Digitalization has spread its influence to all aspects of life. It is already difficult to imagine that there are non-digitized processes. In response to the challenges of digitalization, industrial enterprises are increasingly focusing their activities on the implementation of the principles of sustainable development, which provides them with certain competitive advantages. Metallurgy is traditionally considered a conservative industry, but it is one of the most promising industries in terms of digital development. Thus, the goal of the study is to analyze the sustainability strategy of a metallurgical company in the conditions of digitalization. Severstal is one of the most efficient mining and metallurgical companies in the world, creating new products and integrated solutions from steel together with customers and partners. At the beginning of 2023, it published a Strategy for Sustainable Development until 2030 under the general motto “Together towards a sustainable metallurgy of the future”. Severstal has achieved some success in key economic indicators in the field of sustainable development. For example, reduction of gross emissions of pollutants in the air, reducing the intensity of greenhouse gas emissions, achieving an increase in the share of recycled waste, reducing the volume of pollutants discharged into water bodies in excess of permissible discharge standards, improvement in aspects such as occupational safety, industrial safety and working conditions, improving the corporate governance system. It confirms the study about the prospects for the development of the domestic sector of the economy, in particular, the metallurgical industry.