Metinvest upgrades its ESG environmental rating by 0.3 percentage points in 9 months
Metinvest Group, an international vertically integrated metals and mining group, has improved its Environmental, Social and Corporate Governance (ESG) rating by Sustainalytics, a leading independent provider of ESG research, ratings and data.
Metinvest Group's ESG risk rating has improved to 31.7 points from 32.0 points assigned 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 lower indicator indicates fewer unmanageable risks.
The Sustainalytics Agency has once again assessed the high level of various ESG risks that Metinvest Group is exposed to due to the specifics of the metallurgical industry as a whole. At the same time, the agency 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, emphasizing that ESG issues are part of the company's business strategy and are 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, which implies a high degree of accountability to all stakeholders.
In the area of environmental management, Sustainalytics noted the responsible approach of the Metinvest Group to air emissions, wastewater discharges, waste disposal and resource use. With regard to 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 the news, Yuri Ryzhenkov, CEO of Metinvest Group, noted:
- In recent years, aspects of ESG have gradually been integrated into our activities and have become an integral part of our worldview. In this regard, it is a special honor for us to receive authoritative recognition in this field, especially in comparison with our competitors. COVID-19 has shown that companies that take ESG issues seriously do better overall. Considering this, as well as the exposure of metallurgy to high risks, we will continue to pay great attention to this area.