Metalloinvest improves its WWF rating for environmental responsibility
20 December 2019
Metalloinvest, a leading global iron ore and HBI producer, and one of the regional producers of high-quality steel, has finished in 4th place in the WWF’s (World Wide Fund for Nature) 2019 transparency ratings of Russian metals and mining companies in the field of environmental responsibility.
The Company received the highest rating in the ‘Information Disclosure’ category and was awarded a certificate for ‘Transparency of Information’.
Metalloinvest has been consistently improving its WWF rating: last year the Company was ranked 6th, while in its debut year in 2017 it finished in 13th place. For the second consecutive year, Metalloinvest has received the highest rating out of all companies in the ferrous metallurgy industry.
The ratings were prepared by the WWF and the National Rating Agency and were presented on the 17 December 2019 at the UN Office in Russia. The rating’s objective is to reduce companies’ impact on the environment, encourage the efficient use of natural resources and drive socially-responsible business practices in Russia.
Andrey Varichev, CEO of Management Company Metalloinvest, commented: “Metalloinvest’s long-term strategy is based on the principles of sustainable development. As one of the leaders in the metals and mining industry, we recognise our role in providing solutions to environmental challenges. Our Company applies the best available technologies to modernise our facilities. We are improving the quality of our iron ore raw materials in order to reduce emissions during the steel smelting process. At this very moment, our Environmental Programme for 2020-2025 is being finalised. The Programme will focus on minimising waste, creating closed water supply cycles and recycling waste. Our aim is to be as transparent as possible and we highly appreciate the WWF’s rating as a tool of independent evaluation and best practice guidance.”
The 2019 rating included 41 participants, of which 8 companies were taking part for the first time. Out of the newcomers, 4 are gold-mining enterprises and 4 are coal-mining enterprises.
The rating system consists of three sections. The ‘Environmental Management’ rating evaluates the quality of a company’s environmental management systems. The rating’s standards are stricter than those of Russian environmental law and comply with international best practice within the metals and mining industry.The ‘Environmental Impact’ rating indicates the manmade environmental impact of enterprises. Specific indicators are used to create a comparative analysis of the companies, which is then compared with last year’s results in order to identify best practice.
The ‘Information Disclosure’ rating evaluates a company’s transparency when it comes to disclosing its environmental impact.
The rating methodology is being gradually improved each year. In 2019, the measures for evaluating the implementation of environmental management systems changed: now it is calculated by using quantitative performance results, rather than by simply acknowledging whether the system exists at a company or not. In addition, a new measure of energy produced from renewable energy sources was also introduced.
Since 2019, the ratings have been carried out as part of the WWF-Russia’s People for Nature project, which is supported by the European Union. The project is primarily aimed at protecting forests and reducing air and water pollution, as well as increasing the social responsibility of businesses.
Each year, the WWF industry ratings increasingly gain recognition not just from the business community and government, but also at an international level. The UN Environment Programme (UNEP), the UN Development Programme (UNDP) and the Swedish International Development Cooperation Agency (SIDA) all support the work carried out around the ratings.
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