Metalloinvest participates in the meeting of the CSR and Sustainable Development Committee of the Association of Managers
28 February 2020
Anastasia Savelyeva, Director of External Social Programmes and Non-Financial Reporting in the Social Policy Department of Management Company Metalloinvest, spoke at the meeting of the Corporate Social Responsibility and Sustainable Development Committee of the Association of Managers.
Ms. Savelyeva shared insights into Metalloinvest’s business strategy, which is based on the principles of sustainable development. It consists of a variety of interconnected aspects, such as production safety and employee health, respect for the environment, energy efficiency and development of production capacities. By investing in the production of high value-added iron ore products, the Company helps its customers, consisting of metal manufacturing companies all over the world, to reduce their environmental impact. The production of steel from pellets or HBI with a high iron and low impurity content uses less energy and reduces harmful emissions.
In 2018, Metalloinvest received a ‘Silver’ rating from the international rating agency EcoVadis. In 2019, the Company improved its rating by 3 points to 60 against an industry average of 43 points. Among metal and steel producers, the Company ranks in the top 8% in the "Environment" category and top 4% in the "Labour and Human Rights" category.
Metalloinvest became the first private company in Russia to receive a loan tied to ESG activity. ING Bank provided the Company a credit line of up to USD 100 mn where the interest rate is tied to the Company’s EcoVadis rating: if the rating rises, the interest rate is reduced and, conversely, if the rating falls, the interest rate is increased.
In the fourth quarter of 2019, Metalloinvest signed an agreement to open a new credit line for pre-export financing with a club of seven international banks. The parties intend to link the loan pricing to sustainable development indicators.Back