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Metalloinvest considers investment in sustainable development as a key factor for business success

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Metalloinvest, a leading manufacturer and supplier of iron ore and hot briquetted iron in the world market, one of the regional producers of high-quality steel, took part in the ESG-transformation of corporate strategies session at the St. Petersburg International Economic Forum.

The session participants noted that environmental and social issues are becoming a key trend and a factor in effective business development. The world is witnessing an increase in investments in these areas. ESG-based funds have over $ 30 trillion under management.

“For us, investing in sustainable development is not charity, but investment. The future of business depends on people's health, a prosperous environment, a developed economy and social sphere in cities, - said Nazim Efendiev, CEO of Metalloinvest. - According to the Climate Strategy we have approved, we plan to achieve carbon neutrality by 2050. This is an ambitious task, but Metalloinvest is already the leader in terms of average emissions per ton of steel, and has perhaps the best prospects for achieving it among all Russian metallurgical companies in the industry. Thanks to the visionary work of Alisher Burkhanovich Usmanov, our main shareholder, we have relied on HBI, which is similar in composition to cast iron and is used as an additive to scrap metal in steel smelting. But in comparison with pig iron production, energy consumption and greenhouse gas emissions in HBI production are 50% less ”.

Today, Metalloinvest produces 7.9 million tonnes of HBI /DRI per year and is the world's leading producer of this raw material.

By 2024, one of the world's largest HBI plants will be built in the Kursk Region, which will operate in close technological cooperation with Mikhailovsky GOK (part of Metalloinvest). The project will be implemented using the latest technologies and will become not only one of the largest, but also the most modern HBI plant in the world. The design capacity of the new production will be more than 2 million tons per year. This will further strengthen our country's leadership in the global DRI market.

Nazim Efendiev noted that today the favorable situation in foreign markets makes it possible to continue and increase investments in the development and implementation of advanced low-carbon technologies.

Representatives of large international companies, scientific centers, ministries and departments, such as the Federal Service for Supervision of Natural Resources, Sberbank, UN, RSPP, Evraz, TMK, Polyus, PhosAgro, Skolkovo, MTS took part in the discussion , VTB Bank and others.

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