Stemcor Modern Slavery and Human Trafficking Statement 2022
Stemcor is committed to ensuring that there are no practices of modern slavery or human trafficking that take place within Stemcor Global Holdings Limited and its subsidiaries. We continue to review and develop our Group practices to adhere consistently with regulation in this area. We have set out below our transparency statement under the UK Modern Slavery Act 2015 and the Australian Modern Slavery Act 2018 for the 2022 financial year.
This statement is published on behalf of Stemcor Global Holdings Limited and each of its subsidiary commercial organisations carrying on business in the UK with a turnover of more than £36 million, and our companies undertaking business in Australia or being Australian entities.
Stemcor is a leading independent service provider for the steel industry. We play a vital role, acting as an intermediary between customers and suppliers. Stemcor trades steel, we do not produce it. We make complex transactions easy for buyers and sellers.
With our specialised expertise and knowledge, we help customers choose from over 3,500 different grades of steel and raw materials available in the market. With our global infrastructure and connections, we ensure they get their product at the right time, and at the right place. For suppliers, we use our relationships and long-standing expert knowledge to ensure that their products reach the best customer in the right destinations. We have a history of working with customers who require specialised steel products including those in the oil and gas, and automotive industries.
Stemcor’s structure, its business and its supply chains
As a trading company, our key supply chain is our people. We employ approximately 240 people across 26 locations in 5 continents. Therefore, the focus of our efforts in relation to Modern Slavery is directed towards our workforce. Our workforce is assessed as being at low risk of modern slavery. On an annual basis we undertake a groupwide review which has again this year given us high confidence that we do not have any forms of modern slavery taking place within our organisation; and we have processes in place to ensure it will not happen.
Stemcor’s policies in relation to human trafficking
We require the highest standards of professional and ethical conduct of all our people and are therefore committed to ensuring that there is no modern slavery or human trafficking in our business.
Our company Ethics Policy sets out the principles and standards that guide the way we do business. It explicitly states that ‘we will protect human rights and not be complicit in any human rights abuses’, including modern slavery and child employment, and equally applies to all our employees, across all functions and businesses globally.
Stemcor’s due diligence process in relation to slavery and human trafficking in our business and supply chains
We have systems in place to help manage supply chains external to our business, including counterparty on-boarding processes. We comply with all relevant laws and regulations, both internationally and in the geographies in which we operate.
The training about slavery and human trafficking available to Stemcor’s staff
All Stemcor employees are required to read and comply with the company policies, including modern slavery. Additionally, all our business unit heads are given refresher modern slavery training annually by email to ensure awareness of modern slavery remains current.
Key Performance Indicator Targets
For the start of the 2023 year, we have set two KPI Targets in relation to modern slavery being that (1) all business units will return their annual modern slavery returns by the required deadlines and (2) we seek to find zero instances of modern slavery through that annual review process.
This statement is made pursuant to section 54(1) of the UK Modern Slavery Act 2015 and section 16 of the Australia Modern Slavery Act 2018 and constitutes our slavery and human trafficking statement for the financial year ended 31 December 2022.