Metalloinvest (the “Company”), the world's leading manufacturer and supplier of iron ore and hot briquetted iron and one of the regional high-quality steel producers, announces that it has received a new sustainability rating from ISS ESG, one of the leading international agencies.
ISS ESG's portfolio includes more than 200 mining and metallurgical companies around the world. In assessing the ESG profile of companies, about 100 different criteria are taken into account, selected taking into account the characteristics of each individual industry. According to the assessment, Metalloinvest was assigned a C- rating with an overall score slightly higher than the industry average (the rating has been in effect since August 27, 2020).
Alexey Voronov, Deputy CEO for Finance and Economics of the Company, said: “We are pleased to inform investors, banks and other interested parties that Metalloinvest will continue to develop in the ESG sector. The new sustainable development rating from one of the leading international agencies ISS ESG enables market participants to obtain an independent and professional assessment of the ESG profile of the Company. We clearly see the key aspects that we need to improve in the near future in terms of the Company's policies and practices in the field of sustainable development in order to achieve the highest world standards. "
ISS Assessment ESG is the second international rating in the field of sustainable development of the Company. Since 2018, Metalloinvest has undergone an annual assessment of its corporate social responsibility practices in accordance with the methodology of the EcoVadis international agency. In 2019, the Company was assigned a “Silver” rating level with a final score of 60 points, which is significantly better than the industry average (43 points).
For reference:The Institutional Shareholder Services (ISS) group of companies was founded in 1985. ISS supports investors and companies in building long-term and sustainable growth by providing high-quality data, analytics and expertise services.
ISS ESG, a division of the ISS Group, is responsible for providing products and services to enable institutional investors to develop and integrate responsible investment policies into their strategies, assessing, analyzing and monitoring the activities of the investee companies, and maintaining communication with issuers.
ISS ESG's corporate portfolio is represented by more than 8,000 companies around the world, which are either included in the leading national and international indices, or have a direct relationship with sustainable development, or are bond issuers without having a public listing of shares ...
The methodology for assessing the ESG profile of companies was developed by ISS Germany (formerly - Oekom Research) and has been continuously improved for over 25 years. The rating is assigned within the established scale from D– to A +.
