Metinvest Group, an international vertically integrated group of mining and metals companies (hereinafter – Metinvest Group) has improved its rating in the field of ecology, social policy and corporate governance (ESG) provided by Sustainalytics agency, a leading independent provider of research, ratings and data in the field of ESG.
ESG risk rating of Metinvest Group has improved to 31.7 points against 32.0 points provided in June 2020. This rating is an assessment of ESG risks that the company does not manage, and is carried out on an absolute scale from 0 to 100. At the same time, a low indicator indicates fewer unmanageable risks.
The Sustainalytics Agency again assessed the various ESG risks that Metinvest Group is exposed to as high, taking into account the general characteristics of the metallurgical industry. At the same time, the agency has improved its assessment of how Metinvest Group manages material aspects in this area. The Sustainalytics agency noted the high quality of the programs, practices and policies of Metinvest Group, stressing that the ESG issue is part of the company’s business strategy and is under the control of the Supervisory Board. The agency added that the general disclosure of ESG issues of Metinvest Group is in line with best practices, assumes a high level of accountability to all stakeholders.
In the area of environmental management, Sustainalytics noted the responsible approach of Metinvest Group to air emissions, wastewater discharges, waste disposal and resource use. In terms of the social component, Metinvest Group received high marks for its occupational health and safety management system, contractor safety programs and human capital management. In addition, the agency highly appreciated the approach to risk management in all categories of corporate regulation of Metinvest Group due to its high standards of business ethics, effective anti-bribery and corruption programs, and product quality control.
Metinvest Group retained its position in the top 10 global metallurgical companies, as rated by the Sustainalytics agency.
Commenting on this news, Yuri Ryzhenkov, CEO of Metinvest Group, noted:
– in recent years, ESG aspects have gradually been integrated into our activities and have become an integral part our worldview. With this in mind, it is a special honor for us to gain authoritative recognition in this field, especially when compared to our competitors. COVID-19 has shown that companies that are serious about ESG generally get good results. Despite this, as well as the high-risk propensity of metallurgy, we will continue to pay great attention to this area.