Annual Review 2016Sustainable progress
2016 was a year of important progress for ArcelorMittal.
Action 2020 is ArcelorMittal's commitment to structurally improving profitability and cash flow generation.
Good corporate governance is about compliance, continuous stakeholder dialogue and being a good corporate citizen.
Details of our steel and mining operations, financials, production facilities and shareholder information.
Integrity and reputation are key assets that must be preserved at all times.
Chairman and CEO
Good corporate governance goes beyond regulatory requirements and extends to the commitment of individual employees to be good corporate citizens, acting with integrity in everything they do. We must strive to create a positive culture in which everyone wants and knows how to do the right thing.
Our commitment to integrity starts with our code of business conduct and is supported by a comprehensive framework of policies in areas such as human rights, anti-corruption, and insider dealing. These reflect the principles and concepts of the UN Global Compact, the OECD Guidelines on Multinational Enterprises and UN Sustainable Development Goal 16 - (Peace, justice and strong institutions).
Read more about how transparent good governance supports our 10 outcomes.
Our code of business conduct brings together for employees what acting with integrity means in practice. It applies to all directors, officers and employees of ArcelorMittal and our subsidiaries worldwide, and employees undergo training on our code and other aspects of compliance every three years. In 2016, 81% of all employees had received up-to-date training in the code of business conduct.
of employees completed code of business conduct training
We continually monitor legal requirements and best practice in the USA, the European Union and Luxembourg to make improvements to our corporate governance standards and procedures when necessary.
Partnership with Transparency International in Brazil
May 2016: in Brazil, where transparency is of particular concern to stakeholders, we announced a partnership with the NGO Transparency International.....
Both employees and other stakeholders can report any breaches of our policies and standards via the confidential whistleblowing facility on our corporate website. We also have confidential whistleblowing hotlines in 30 major countries of operation. From these systems in 2016, we received 153 complaints relating to alleged fraud, of which none were found to be significant.