Social investments for sustainable development
MMK has been considered a socially orientated company for a long time. MMK’s management views socially orientated projects as a long-term investment in the Company’s sustainable development. Moreover, by investing in social welfare, MMK creates a sound basis for further development of Magnitogorsk and the entire Ural region. Guided by these objectives, the Company implements social and infrastructure projects and programmes for their employees, as well as city residents.
In the first half of 2021, as part of its social policy, MMK allocated RUB 355 million to charity. Another RUB 150 million has been allocated to support pensioners and disabled people as part of the comprehensive charitable programme "Care". Traditionally one of the most crucial areas of the Company's social investment has been the treatment of employees and the establishment of medical programmes. For these purposes, a total of RUB 264.6 million has been allocated in the first six months of 2021.
In addition, in the first half of the year, MMK allocated funds to compensate employees for the cost of health resort treatment (RUB 194.6 million) and children's extra-curricular activities (RUB 25.8 million), promoting healthy lifestyles, sport and physical activity and the maintenance of sports facilities (RUB 82.1 million), support for mothers and large families (RUB 62.3 million), organising cultural activities and the maintenance of cultural centres (RUB 46.9 million), providing hot meals for employees (RUB 36 million), housing, youth, educational programmes and other voluntary social commitments (RUB 69.5 million).
MMK has also traditionally invested considerable sums in regional development, which involves investing in cultural, sport and health facilities and participating in the landscaping and overall improvement of Magnitogorsk. Furthermore, as part of the "We Stand Together" charity programme, payments were made to doctors affected by COVID-19. In view of the ongoing acute situation with the COVID-19 pandemic, the plant's management has decided to pay for internet access for school children until the end of the year, who received tablets and laptops last year at the Company's expense.
In total, MMK Group's investments in charity and social programmes in the first half of 2021 amounted to RUB 1,285.9 million, of which, more than RUB 900 million were social investments made by the parent company.