Mark Elborne, President, GFG Alliance Global Advisory Board, talks about the role of the newly established Board.
Q/ What will the Global Advisory Board’s priorities be?
GFG Alliance has grown fast in recent years as it works to tackle the steel and aluminium industry’s urgent need to cut carbon emissions and modernise manufacturing processes.
Sanjeev knows that as the company grows it’s critical to do so in the right way – particularly in the area of Environment, Social and Governance (ESG) which is increasingly important for all its stakeholders. The Board will provide advice and guidance to support the company’s ESG Strategy and its goal of being carbon neutral by 2030.
GFG’s consolidation into LIBERTY Steel, ALVANCE Aluminium and SIMEC Energy has already helped the company strengthen its transparency and governance. It’s a critical area.
With GFG’s continued growth, appointing the Global Advisory Board will help it take the next step up by providing insights, advice and guidance to Sanjeev and his global executive team as they develop GFG’s global governance and risk management framework.
Q/ How was the membership developed?
Sanjeev looked carefully at how other major companies, particularly in the resources and manufacturing sectors, have benefitted from independent advisory structures.
They help international firms understand the often complex dynamics they face, take account of their stakeholder concerns and help companies make the right long-term judgements.
He decided to bring in a range of experts across GFG’s international heartlands – some from outside GFG’s core sectors and some from within them – so the Global Advisory Board can give the leadership team the best advice.
Q/ What do you see as the big opportunities and areas of development for GFG?
The company has a really important vision and strategy – economic sustainability, social sustainability and environmental sustainability – the delivery of which creates a huge opportunity.
From this starting point GFG can work to help national economies recover from the Covid pandemic, to revitalise industrial communities and to lead the decarbonisation of industry.
It’s a compelling strategy and one in which governments across the world can see long-term value. As the company grows globally, it needs to continue to maintain trust and demonstrate that it can also meet the very highest Environmental, Social and Governance standards.
This is where the Global Advisory Board can play an important role by providing checks and balances and by giving a guiding hand.
Q/ How do you see the Global Advisory Board evolving?
GFG is a company that moves fast and has a resourceful, can-do attitude.
Over the coming years it will be identifying new opportunities, entering new markets and taking up new challenges.
Decarbonisation in particular is moving at pace as governments incentivise progress and breakthrough technologies such as hydrogen emerge. The Board will respond to these changes, bringing in new members and expertise in new markets to help GFG identify the right opportunities, make the right judgements and lead its industries to a sustainable future.