Metalloinvest joins UN international sustainability initiative
10 September 2019
Metalloinvest has joined the United Nations Global Compact (UNGC), an international initiative centred on corporate sustainability and social responsibility.
As a party to the Global Compact, Metalloinvest has undertaken voluntary commitments to comply with the fundamental principles of the UNGC in the fields of human rights, labour relations, environmental protection and the fight against corruption.
Andrey Varichev, CEO of Management Company Metalloinvest, said: “Joining the UN Global Compact is a great honour and responsibility for our Company. Large businesses with advanced technologies play an important role in the preservation of resources, the protection of life and health, the development of human capital, education and research. Participation in the Global Compact provides Metalloinvest with the opportunity to share best practices and join forces with companies around the world. This will help us to effectively build a business strategy based on the principles of long-term sustainability."
Metalloinvest is committed to industrial leadership through sustainable growth and the creation of shared values for all stakeholders. Every year, the Company strengthens its awareness about various aspects of sustainable development. Since 2015, Metalloinvest has been supporting UN global initiatives, including pursuing 17 UN Sustainable Development Goals (UN SDGs).
Metalloinvest is constantly increasing the production of high-quality iron ore and steel products, reducing emissions and waste in its own production; supplying steelmaking companies all over the world with raw materials which help improve the environmental performance of the steel industry.
The Company also provides its employees with safe working conditions, a competitive wage, holidays and healthcare and invests in the development of the regions where the Company operates with the support and participation of local communities.
Metalloinvest attaches great importance to transparency and the exchange of experience to achieve strategic goals in sustainable development. To this end, the Company has published non-financial reporting since 2009. This year, the Corporate Social Responsibility Report was replaced by the Sustainability Report. This represents a major shift in the Company’s philosophy: sustainable development is the foundation of Metalloinvest’s business strategy. Metalloinvest’s Sustainable Development Report is prepared based on the international standards of the Global Reporting Initiative (GRI) and ISO:26000 and with consideration of international best practice.
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