Metalloinvest, a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, has announced that the company has scored “B-” in the CDP 2021 rating, which is the best score for a debut rating among Russian ferrous metallurgy companies.
CDP is a leading sustainability rating agency that is best known and most respected among the investment community for its climate impact assessments, according to Metalloinvest’s CEO Nazim Efendiev. He said that the company was delighted to be recognized for its efforts.
Following the adoption of its Climate strategy in early 2021, Metalloinvest took part in the CDP rating for the first time later in the year and was awarded a “B-” score, ahead of the industry average score of “C”. The agency noted very high ratings for climate change governance and associated risks and the company’s contribution to the development of low carbon footprint products.
“Metalloinvest is becoming an invaluable environmental partner for the steel industry, facilitating the transition towards green metallurgy.”Nazim Efendiev, CEO, Metalloinvest.
Nazim Efendiev, CEO of Metalloinvest, commented: “Metalloinvest committed to its Net Zero Strategy in January 2021, we have a pipeline of projects that will support this goal and will allow the industry to increase the usage of the most environmentally friendly iron ore feedstock. Metalloinvest is becoming an invaluable environmental partner for the steel industry, facilitating the transition towards green metallurgy.”
The CDP score is now the fifth ESG rating received by the company. In January 2021, Metalloinvest scored 65 points out of 100 in the EcoVadis rating (a 5-point improvement y-o-y). In July 2021, Sustainalytics assigned Metalloinvest 27.8 points for its ESG Risk Rating (a 4-point improvement y-o-y). In September 2021, ISS ESG upgraded company’s score to “C” from “C-”, while in November 2021, Metalloinvest scored 44 points in the S&P Global CSA (a 7-point improvement y-o-y).
CDP is a global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. According to Metalloinvest, CDP is the benchmark of environmental reporting that makes use of a wide and comprehensive dataset. More than 13,000 companies around the world take part in the annual assessment of their environmental impact. The score is assigned on a set scale from D- to A.