Social responsibility

Lasting relationships with our stakeholders

Vallourec is committed to treating all partners fairly and to creating a working environment based on the fundamental values and principles outlined in the Group's Code of Ethics. Vallourec focuses particularly on: 

The health and safety of its employees

​Employee training and motivation through skills development, leverage of expertise, promotion of talent and career development

Social dialogue

Shareholder satisfaction

Listening to and understanding the expectations of the communities around the sites where the Group operates

Selecting a network of reliable and responsible suppliers

SAFETY IS THE TOP PRIORITY​


Health and safety are Vallourec priorities and will remain so beyond the downturns in activity and industrial reorganizations. The solid performance and successes throughout the world are proof of it.
 
In 2016, the TRIR (Total Recordable Injury Rate) was 2.61 and the LTIR (Lost Time Injury Rate) was 1.41. Since 2016, Vallourec incorporates its subcontractors' TRIR and LTIR performance indicators on the same level as Group employees and temporary staff. The Group suffered no fatalities. These results reflect a sustained mobilization of teams, the constant reminders of the 12 absolute golden rules, the workplace safety inspections conducted by managers and the 300 continuous improvement groups focused on safety throughout the world.
The training requirement applies to new employees as well as temporary staff.
 

EMPLOYEE TRAINING AND MOTIVATION

Vallourec's training policy aims to combine the aspirations of individual employees with the needs of the business. Almost half the time spent in training is dedicated to improving skills while safety takes up a third of the time, on average.

Vallourec's remuneration policy is fair and motivating and includes profit sharing arrangements.

Since 2008, Vallourec has been offering annual employee share plans in its sites around the world. As at 31 December 2016, its employees held 3.50% of the Group's share capital.

SOCIAL DIALOGUE - PRINCIPLES OF RESPONSIBILITY

Wherever Vallourec operates, the company complies with international conventions and national legislation and adapts to local customs.

In consultation with the social partners, Vallourec management has drawn up in 2008 the “ Principles of responsibility applicable within the Vallourec Group. "

TRUST-BASED RELATIONS WITH OUR SHAREHOLDERS

Vallourec meets its individual and institutional French and foreign shareholders ​on a regular basis in order to build close trust-based relations. The Shareholders' Meeting is one of the key highlights in this ongoing dialogue that the Group intends to nurture, but exchanges continue throughout the year, with meetings and conference calls with investors. Vallourec regularly organizes informational meetings for individual shareholders, namely as part of its Shareholder Club. Vallourec likewise takes part in Socially Responsible Investment (SRI) events. These meetings are contributing to the Group's sustainable development drive.

INFORMATION FOR ALL

The Investor Relations and Financial Communications team provides accurate, precise and true information through a number of complementary channels, namely the Activity report, letters to shareholders and the Investors section on the Vallourec website.

SUPPORTING LOCAL COMMUNITIES​

Vallourec places a high priority on the impact of its activities on local populations. Local purchases, which accounted for 45% of mass purchases in 2016, reinforce local industrial development. In addition to this direct economic impact, the Group undertakes actions to promote education, health and development. 

In Brazil, more than 6,000 young people directly benefited between 2011 and 2015 from programs promoting long-term learning and job placement and the cultural center funded by the Group, Cine Theatro Brasil​ in Belo Horizonte, welcomed nearly 800,000 visitors since its opening in October 2013.

Vallourec’s Indonesian subsidiary is engaged in providing assistance for education and health programs, financing sports and cultural facilities and acting to restore the environment. 

All of these efforts mobilized nearly €3.3 million in 2016. 

A RESPONSIBLE PURCHASING POLICY

Vallourec’s Purchasing function benefits from a strong and centralized governance. It has deployed tools and processes shared by all Group entities. This structure is based on an analysis by type of purchase to facilitate the implementation of synergies and the monitoring of suppliers' selection.

All of these new processes take into account Corporate Social Responsibility (CSR) criteria, sustainable development, ethical conduct and safety. In 2016, pursuant to this policy, Vallourec:

  • conducted several hundred audits or supplier risk analyses at all of its sites;
  • continued the formal and systematic evaluation of suppliers (production and non-production) based on CSR and environmental criteria. As at 31 December 2016, nearly 850 suppliers were incorporated in this project;
  • treated or eliminated the risks identified for 14 of the Group’s global suppliers;
  • expanded its monitoring campaign relating to "Conflict Minerals" to cover 4,000 suppliers in 2016.

See also Sourcing

Vallourec Integrity Line!

If you observe behavior that runs contrary to the values and principles of the Code of Ethics, you can report it using Vallourec Integrity Line, the new reporting system the Group accessible at the following adress: https://www.bkms-system.com/Vallourec-Integrityline.

 

Publications

Safety Day

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Every year, teams gather at all Vallourec sites to recognize achievements, participate in safety workshops and progress together toward the ultimate goal: zero accidents.​​
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Corporate social responsIbility

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Responsibility does not end at the door to our offices and plants. It extends well beyond through our influence on civil society. A partner committed to a balanced development model, Vallourec assigns great importance to the surrounding community and strives to establish relations of reciprocal understanding and trust. For example, the Group is very active in Brazil, where it has created a variety of initiatives, including converting the Cine Teatro building in Belo Horizonte into a cultural center dedicated to artistic production.
 
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