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Metalloinvest Discusses Prospects for Green Technologies with Experts from the Russian-Canadian Business Council

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Metalionvest took part in a meeting of the working group on natural resources of the Russian-Canadian Business Council (RKaBC), dedicated to cooperation in the field of "clean" technologies, accelerating the implementation and scaling of innovative ideas.

Opening the meeting, the CEO of Metalloinvest and the co-chairman of the RCAC from the Russian side Nazim Efendiev greeted the participants and emphasized the high importance of the meeting agenda in the context of the global trend towards decarbonization and the green transition.

“As a global leader in the production of direct reduced iron - a key product for the transition to green steel production, Metalloinvest is laying the foundation for reducing the carbon footprint of the metallurgical industry in the interests of future generations,” Nazim Efendiyev emphasized.

“Our production technology allows us to minimize greenhouse gas emissions both at our own production facilities and at consumers,” added Yury Gavrilov, Director of Strategy, M&A at Metalloinvest. - This is the technology used by our unique OEMK plant, which combines the production of DRI and steel smelting in electric furnaces. The indicator of direct and indirect greenhouse gas emissions at OEMK is 1.3 tons of CO2 per ton of steel. This is the lowest figure among large metallurgical companies in the Russian Federation. We set ourselves the task of not only achieving carbon neutrality of our own production by 2050, but also, due to the quality of our products, to achieve the maximum reduction in emissions from our consumers in the near future - by 2025 they should be reduced by 44%.

Yuri Gavrilov noted that sustainable development is one of the priorities of Metalloinvest's strategy. The Company also faces challenges in improving environmental protection and energy efficiency.

The environmental program provides for the implementation of a set of environmental protection measures with a “direct” environmental effect at all production sites of the Company. At the same time, 70% of the budget of the program will be made by the Clean Air project aimed at improving the quality of atmospheric air.

The main goals of the energy efficiency program are to reduce the consumption of electricity and gas by 8%, diesel fuel by 48%.

Total investments under the Environmental and Energy Programs will exceed 45 billion rubles. Both programs must be implemented by 2025.

The meeting of the working group was attended by representatives of leading Russian industrial companies such as Metalloinvest, Norilsk Nickel, Kinross, as well as experts from the Skolkovo Foundation, Hatch, the Ministry of Natural Resources of Canada, the Trade Association of Mining Suppliers of Canada ...

The Russian-Canadian Business Council was established in 2004 by the Canadian Business Association in Russia and Eurasia (CERBA) and the Russian Union of Industrialists and Entrepreneurs (RUIE) to develop and strengthen long-term cooperation between the business communities of Canada and Russia.

The initiative to create the Council arose during a meeting between Russian President Vladimir Putin and Canadian Prime Minister Paul Martin on October 12, 2004, during which the leaders unanimously spoke in favor of expanding and strengthening business ties between Canada and Russia. Over the 17 years of its existence, CRBC has become an essential tool for promoting and supporting bilateral business cooperation between Russia and Canada.

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