Calculation of MMK Group's greenhouse gas emissions is confirmed by independent auditors
Magnitogorsk Iron and Steel Works (MMK) pays significant attention to the issue of climate change and the assessment of its greenhouse gas emissions. Taking an active position on the climate agenda, the Company for the first time assessed the risks associated with global climate change by performing a quantitative assessment and verification of direct and indirect greenhouse gas emissions for 2019-2020 according to Scope 1, Scope 2 and Scope 3 for its main production site in Magnitogorsk. The results of MMK Group's emissions calculations were confirmed by the auditing company BSI.
As part of its efforts to combat climate change, MMK Group carried out an inventory of emissions sources and a quantitative assessment of greenhouse gas emissions in 2021. In July of this year, BSI issued a positive conclusion upon the verification of MMK Group’s greenhouse gas emissions for 2020 according to Scope 1, Scope 2 and Scope 3.
MMK's activities in combating climate change support the Company's goals in the field of environmental, social and corporate responsibility (ESG). MMK plans to achieve a reduction in CO2 emissions by 3.9 million tonnes in comparison to 2020 levels by 2025.
MMK ensures the reduction of greenhouse gas emissions not only by using the best available technologies, but also through its development of innovative production methods. In particular, MMK produces rolled products from high-strength steel grades under the MAGSTRONG brand, which enables the Company to increase its production volumes on an annual basis. With the use of MAGSTRONG products, MMK has improved the quality of its production while reducing greenhouse gas emissions by an average of 30%, as a result of replacing ordinary steel grades and tracking emissions throughout the entire product life cycle.
MMK Press Service