November 2023 Volume 5

ENERGY

Insights on Energy and Sustainability in the Forging Industry By Angela Gibian

Employees & Sustainability 48% of respondents said they have a dedicated staff member whose function is to oversee their sustainability program. Employees play a crucial role in implementing sustainability policies. Companies invest in education and training programs to ensure that all staff members understand the policy's objectives and how to contribute to sustainability efforts in their daily work. Employees often take pride in working for a company that values sustainability and ethical practices. Sustainable initiatives can boost employee morale and engagement, leading to increased productivity and lower turnover rates. Sustainability & Competitiveness 68% of respondents said that they believe that sustainability is important for the future competitiveness of the forging industry. Consumers are increasingly conscious of the environmental impact of the products they purchase. This has created a growing demand for sustainable goods, including those produced by the forging industry. Companies that prioritize sustainability can gain a competitive edge by meeting this demand and positioning themselves as responsible, environmentally conscious businesses. Various Initiatives Related to Energy and Sustainability Primary initiatives that FIA Member companies are focused on related to energy and sustainability are LED Lighting, recycling, tracking energy consumption, and tracking waste generation.

FIA recently conducted a survey of its membership to gather information regarding current practices related to energy and sustainability. Sustainability Policy, Programs and Goals According to the survey, 52% of respondents say they have existing policies and programs in place. In addition, 23% said that they are in the process of developing their sustainability policies. Forging companies that are committed to sustainability are increasingly developing comprehensive sustainability policies to guide their operations. These policies serve as a roadmap for integrating sustainability principles into every aspect of their business. To begin the process of creating a sustainability policy, forging companies establish clear and measurable goals and objectives. These could include reducing energy consumption, decreasing emissions,

minimizing waste, or optimizing resource utilization. Setting specific targets helps to focus efforts and track progress. Companies often involve various stakeholders, including employees, suppliers, customers, and the local community, in the policy development process. Gathering input and feedback from these groups ensures that the policy is aligned with the expectations and values of all involved parties. Some forging companies pursue third-party certifications, such as ISO 14001 (Environmental Management System) or specific industry-related standards, to demonstrate their commitment to sustainability and showcase their adherence to best practices.

Recycling

LED Lighting

Track Energy Use

Track Waste Generation

Solar Power

Other (please specify)

Sourcing Green Materials (Green Steel)

None

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FIA MAGAZINE | NOVEMBER 2023

Regulatory Compliance

N/A