Credit Bank of Moscow (MCB) entered into an agreement with OJSC UMMC, which provides for the possibility of financing the implementation of ESG activities of a mining and metallurgical company.
Credit resources can be used to support environmental initiatives of UMMC in the regions where production assets.
“Since its inception, UMMC has been constantly working to implement various ESG measures aimed at minimizing the negative impact on the environment and improving the environmental situation in the regions of its presence, as well as addressing social issues. Over the past 10 years, UMMC enterprises have reduced the volume of emissions of pollutants into the atmosphere by 25%. The share of recycled water supply to UMMC enterprises reached 85%. The total expenditures on environmental protection measures over the past 10 years have amounted to more than 30 billion rubles, "commented Andrey Anatolyevich Kozitsyn, General Director of UMMC. “We are pleased that our partners share our goals and are actively implementing tools to help achieve them.”
“Promoting the resilience of our clients' businesses and fostering a responsible attitude towards the environment is part of ICD's ESG strategy. Projects that can have a positive impact on the environment are implemented by the bank as a priority, incl. on preferential terms ", - commented Alexander N. Kaznacheev, Deputy Chairman of the Board of MKB.
MKB is in the TOP-5 of the most progressive Russian banks in the direction of sustainable development according to the survey of WWF, the European University at St. Petersburg and the Analytical Center National Rating Agency, 2020 MKB is the first Russian bank with an ESG rating BBB [esg] from the RAEX Europe rating agency. The bank also took first place among banks in the ESG ranking of RAEX Europe, published in January 2021.
Ural Mining and Metallurgical Company (UMMC) is a Russian mining and metallurgical holding, the largest producer of copper, zinc, coal and precious metals in the country. In addition, UMMC enterprises produce lead, selenium, tellurium, copper and nickel vitriol, and other types of by-products. The company is based on a closed technological chain for copper: from the extraction of raw materials to the production of finished products based on it (copper wire rod, rolled metal, cable and wire products, heat exchangers).
UMMC includes more than 40 enterprises in Russia and abroad. The headquarters of the company is located in the city of Verkhnyaya Pyshma (Sverdlovsk region).