Metalloinvest, a leading global iron ore and HBI producer
and supplier, and one of the regional producers of
high-quality steel, announces the positive dynamics in the
sustainable development indicators, which have been
reflected in the score of the independent international
rating agency EcoVadis.
Based on the actualisation of the Corporate Social
Responsibility (CSR) rating in 2019 Metalloinvest has been
awarded a ‘Silver’ rating. Metalloinvest’s rating improved
by 3 points year-on-year to 60 points in 2019, while the
average industry rating was 43 points.
Metalloinvest was ranked in the top 12% of companies rated
by EcoVadis globally. At the same time, the Company featured
in the top 8% of in the ‘Environment’ category and in the
top 4% in ‘Labor and Human Rights” category among the
producers in the manufacture of basic iron and steel
industry.
Andrey Varichev, CEO of Management Company Metalloinvest,
commented: “We constantly improve our standards and
practices in the field of employees’ life and health
protection, we take care of environment and well-being of
local residents in the towns where the Company operates.
Sustainable development has become a key pillar in our
Company’s strategy for long-term leadership and corporate
culture. Our customers and investors enhance attention in
ecological and social aspects of the business. An
independent assessment of the company’s progress in this
sphere is important to them.”
Based on the results of its assessment, EcoVadis identified
areas where Metalloinvest can improve CSR practices in order
to achieve an even better rating in 2020.
The Company has improved its positions in the number of
ratings in sustainable development for 2019. In the WWF’s (World
Wide Fund for Nature) rating Metalloinvest took 4th place
compared to 6th in the previous year, showing the best
result out of all companies in the ferrous metallurgy
industry. Also, the Company received the highest rating in
the ‘Information Disclosure’ category.
The Company took 45th place in Interfax-ERA’s Fundamental
Efficiency (environmental and energy) rating. The rating
covers the largest top-150 companies in Russia and
Kazakhstan. Moreover, Metalloinvest ranked second among the
top-5 steel companies in terms of steel production.
Metalloinvest uses the best available technologies in
production as well as directly reduced iron and steel
casting in the electric furnace, enabling the Company to
minimise its environmental footprint. Between 2007-2018
total dust emissions into the atmosphere from Company
enterprises declined by 24%.
The Company increases the output of high-quality products
(such as HBI and premium quality pellets), the use of which
allows customers to reduce gas emissions during steel
production.
The total expenses of Company in the field of environmental
protection were 44 bn roubles in 2013-2018.
Metalloinvest has been supporting UN global initiatives,
including pursuing 17 UN Sustainable Development Goals (UN
SDGs). In 2019, Metalloinvest has joined the United Nations
Global Compact (UNGC), an international initiative centered
on corporate sustainability and social responsibility.
In 2019 Metalloinvest became the first private company in
Russia to sign a loan agreement with ING Bank in the amount
of up to USD 100 mn, the interest rate of which depends on
the ESG rating.
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Metalloinvest is a leading global iron ore and merchant HBI
producer and supplier, and one of the regional producers of
high-quality steel. The Company has the world's
second-largest measured iron ore reserve base and is one of
the lowest-cost iron ore producers. Metalloinvest is wholly
owned by Holding Company USM LLC. Alisher Usmanov is the
major beneficiary of Holding Company USM LLC (49%).
EcoVadis is an international rating platform that evaluates
the management system for corporate and social
responsibility of business. The EcoVadis methodology is
based on international CSR standards including the Global
reporting initiative, the UN Global compact and ISO 26000.
EcoVadis evaluates companies in 4 groups: environment,
labour & human rights, ethics and sustainable procurement.
In 2018, Metalloinvest received the ‘Silver’ CSR rating from
EcoVadis.
