1. Introduction

The current global business environment is marked by unprecedented uncertainties, including concerns about economic recession, escalating geopolitical risks, and the restructuring of global supply chains. This scenario will increasingly differentiate between sustainable and unsustainable companies, emphasizing the profound importance of ESG (Environmental, Social, and Governance) management.

In response to these challenges, OTELINOX has formulated an ESG Strategy to establish a management system, focusing on identifying business opportunities for sustainable growth and robust risk management through effective ESG practices.

2. Strategy and framework

2.1 Environment & Carbon Neutral

In an era where climate change is at the forefront of global concerns, addressing greenhouse gas (GHG) emissions is a key aspect of OTELINOX’s commitment to sustainable practices. As a leading manufacturer in the stainless-steel sector, we are aware of the industry’s environmental challenges and our responsibility to mitigate our carbon footprint.

OTELINOX is committed to transparency and accountability in the GHG reporting. We continuously monitor and report our emissions, ensuring that our stakeholders, including the national authorities, are informed of our progress and challenges.

We are committed to reducing the GHG emissions and energy use. Although the electricity contracted by OTELINOX is entirely green, by reducing its consumption, the company can utilise spare capacity to power other future initiatives which aim to reduce GHG emissions by switching from existing, outdated, gas burning equipment to more efficient technologies.

Considering the legal context as well as risks and opportunities facing OTELINOX, we intend to reach carbon neutral till 2050, by shifting energy source from gas to electricity, and exploring the new technologies such as Carbon Capture and Storage in the future.

For Scope 2 (indirect emissions) OTELINOX now uses electricity from 100% green sources and intend to keep doing this for long term. According to the contract concluded between the Company and the electricity supplier, for each contractual month the supplied energy is certified by the supplier as being 100% from renewable sources, through guarantees of origin received from the producers and transmitted for use to the consumer monthly. By sourcing electricity generated from green sources, we ensure that our energy consumption contributes less to environmental impact while upholding our production standards.

Also, we carefully monitor non-GHG emissions and waste water quality and ensure the values are kept below our Integrated Environmental Authorization allowance.

Our approach to waste management is characterized by separate collection and temporary storage under appropriate conditions. Our focus is on the efficient handling of waste materials, ensuring they are delivered to authorized collectors for recycling, recovery, or disposal. This approach aligns with the responsibilities stipulated in the law on waste management.

2.2 Social

OTELINOX is not just a workforce; it’s a community built on the pillars of respect, integrity, and continuous growth. Through the comprehensive policies and practices, we aim to cultivate a work environment that values every member, encourages professional development, and upholds the highest standards of safety and wellbeing. Our approach to employee management is comprehensive and multifaceted, encompassing key aspects such as diversity and inclusion, employee development, grievance mechanisms, and health and safety.

At OTELINOX, our highest level of management is deeply committed to the ongoing enhancement of our Integrated Management System. This commitment is a fundamental part of our corporate ethos, ensuring that our operations adhere to the highest international standards. In line with our commitment to health and safety, OTELINOX has in place an IMS Policy which is rooted in globally recognized standards. This policy ensures that all our processes and procedures comply with legal requirements and promote an organizational culture that prioritizes the health and safety of our employees. The company regularly instructs and educates employees about health and safety at work and emergency situations, respecting the standards, laws, and regulations in force, as well as internal regulations and procedures aimed at employee health and safety.

Community involvement is also an integral part of our identity.  Our approach to community engagement addresses the needs of the local community. This approach is primarily actualized through our Corporate Social Responsibility (CSR) actions, efficient utilization of profit tax redirections, and targeted sponsorships.

2.3 Governance

At OTELINOX, we uphold a strong commitment to ethical practices and integrity in all our interactions, both internally with our employees and externally with our partners. This commitment is embedded in our Internal Regulation and Code of Conduct, which serve as guiding frameworks for our operations.

Our Code of Conduct and Internal Regulation include specific provisions that emphasize the fight against corruption, endorsing anti-corruption behaviour and outlining policies regarding our neutrality and political contributions.

OTELINOX’s human rights policies are influenced by the Universal Declaration of Human Rights adopted by the UN, the European Convention on Human Rights developed by the Council of Europe, labour legislation and applicable laws in force with a key focus on the fight against human trafficking and illegal substance trafficking.

At OTELINOX, we are committed to upholding the highest standards of data protection and privacy as mandated by the General Data Protection Regulation (GDPR). Recognizing the critical importance of these responsibilities, we instituted comprehensive policies that govern the processing of personal data. These policies ensure that every facet of our data handling – from collection to storage, use, and protection – is conducted with the utmost respect for privacy rights and in strict adherence to GDPR guidelines.

3. Reports