NLMK Group, an international steel company, will take part in the 26th Conference of the UN Framework Convention on Climate Change (COP26). Leaders of countries and business representatives will discuss programs to reduce greenhouse gas emissions, green financing and the development of the global carbon market in Glasgow from October 31 to November 12.
As part of the Russian delegation, Nikita Vorobyov, NLMK Group Director directions of the company's activity in the field of decarbonization:
- introduction of new technologies for ore concentration in the period 2021-2023. will increase the iron content in the raw materials used and reduce the fuel consumption of NLMK's blast furnaces, which will lead to a decrease in CO2 emissions by 800 thousand tons per year;
- the new power plant, which will be built at the NLMK site in 2023, will use associated gases of metallurgical production, which will increase the share of NLMK's own generation from 65% to 95% and reduce greenhouse gas emissions by 650 thousand tons per year;
- NLMK Group plans to create a new low-carbon steel production chain based on hot briquetted iron (HBI) from its own iron ore raw materials;
- the company implements a portfolio of research projects aimed at the use of hydrogen in the production process, extraction and utilization of CO2;
- a separate direction of the company's strategy is the development of product range for customers that reduce their carbon footprint: wind power generation, electric cars, energy-efficient networks and equipment.
NLMK's program to reduce emissions and greenhouse gases for five years of the period 2016-2020 allowed to reduce CO2 emissions per ton of steel by 4%. By 2023, the company plans to further reduce this figure by another 3%.
For more information on NLMK Group's climate policy, click here.
Information on NLMK Group
NLMK Group is a vertically integrated metallurgical company, the largest in Russia and one of the most efficient producers of steel products in the world.
NLMK Group metal products are used in various industries, from construction and mechanical engineering to energy equipment and offshore wind turbines.
NLMK's production assets are located in Russia, Europe and the United States. The company's steel production capacity exceeds 18 million tonnes per year.
NLMK's common shares, which have a free-float of 20.7%, are traded on the Moscow Stock Exchange (ticker “NLMK”), global depository shares - on the London Stock Exchange (ticker "NLMK: LI"). The share capital of the Company is divided into 5,993,227,240 ordinary shares with a par value of 1 Russian ruble.
More information about NLMK's share capital can be found here.
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