Information on the report

Approach

To align with our stakeholders' expectations concerning the most important issues related to the Group's operations, we are delighted to present our annual integrated report, which is the second integrated report published by JSW Group. The report encompasses the most important issues that show the dependencies and relations linking the financial and non-financial aspects of the Group's activities.

The aim of this integrated report is to present to all shareholders, investors and partners comprehensive information about the Group as well as to depict and clarify the context of its activities and to clarify that value creation reaches far beyond the financial aspect, covering issues such as: respect for the environment, science and people, safety, honesty, responsibility and transparency, based on which we build trust, lasting relations with customers, employee satisfaction and good contacts with local communities.

Scope

This report depicts the key events and financial results for the period from 1 January 2020 to 31 December 2020.

The report is published annually. The previous report was published in May 2020. No material changes in the scope of reporting occurred in comparison to the previous year. The key areas that attract the largest interest from our stakeholders are as follows:

  • business strategy,
  • corporate governance, transparency and honesty in management,
  • personnel safety,
  • impact of JSW Group's operations on the natural environment and its protection,
  • employee and social issues, including respect for human rights and anti-corruption,
  • innovations and R&D,
  • respect for and effective use of natural resources.

Information on the Group structure and companies included in the consolidated financial statements is presented in Note 1.2.

Methodology

The form and content of this report are prepared in accordance with recommendations from the International Integrated Reporting Council (IIRC) concerning: materiality and reliability of published information, consistency and focus on the future. The financial data is presented in accordance with International Financial Reporting Standards (IFRS). Non-financial reporting areas are prepared:

  • in accordance with guidelines in art. 49b and art. 55 of the Accounting Act of 29 September 1994, as amended, which implements Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014 as regards disclosure of non-financial and diversity information,
  • in accordance with GRI Standards, core option. Aside from disclosures corresponding to the above areas, the report includes information corresponding to GRI Standards outside of these areas and selected sectoral disclosures. Nonetheless, in these cases certain aspects are omitted, e.g. management approach.

The report was not subject to an additional external verification by a statutory auditor.

The report content, i.e. the thematic scope of the sustainability aspects reported, is consistent with matters that are considered as material and significant in the course of work on JSW Group's new sustainability strategy. The strategy was formulated on the basis of a survey of significant areas of responsibility conducted at the turn of 2019 and 2020, expert works and the results of a workshop organised for selected managers for strategy development purposes in September 2020.

2020 was the final year in which JSW Group's first comprehensive sustainability strategy was in place. The following aspects were defined during strategy formulation in 2017:

  • key areas of responsibility,
  • key stakeholder groups.

Taking into account the changes taking place at JSW Group and within its surroundings, despite having previously defined the key areas of responsibility, JSW Group decided to review and update its knowledge of:

  • their materiality with regard to stakeholder decisions,
  • their impact on the company's results (social, environmental and economic).

To this end, at the turn of 2019 and 2020 a range of the Company's stakeholders were asked to complete a validation survey, which would make it possible to re-evaluate and map out the key areas of responsibility. These included JSW Group managers, employees, counterparties, capital market participants and entities involved in the local community.

If you have any questions, concerns or suggestions with regard to the content of this report, please contact:

Barbara Waltar

Tel. +48 32 756 4469               

email: [email protected]              

Karolina Woszek

tel. +48 695 752 590                

email: [email protected]