MMK Named Among Top 10 Russian Companies in ESG
Magnitogorsk Iron and Steel Works (MMK) moved up 13 positions in Expert magazine's 2022 sustainability ranking and was named among the top ten Russian companies by ESG performance, taking 8th place. In addition, MMK became the leader in the “social policy and personnel” category, receiving the highest score among all rating participants.
In compiling the ESG ranking, experts looked at indicators across four areas of activity by companies from the Expert-400 list of the largest Russian companies. The “social policy and personnel” category included factors such as staff turnover, professional level and the company’s work with specialized universities. The “ecology” category considered the volumes and quality of emissions of each company, the presence of programmes on emissions reduction and recycling, as well as use of the best available technologies.
The ranking also considered companies’ work in “developing the region of presence,” including the construction of infrastructure and social facilities, support for charitable organisations, the organisation of cultural events, the presence of partnership programmes with NGOs and municipal organisations, as well as other corporate programmes consistent with the UN 2030 Sustainable Development Goals. In addition, experts evaluated companies’ work with small and medium-sized businesses.
MMK has a long-standing track record of placing emphasis on sustainable and long-term development, which, as the authors of the ranking noted, fills its activities not only with economic but also with social and environmental impact. MMK’s commitment to ESG is confirmed by its high positions in various sustainability ratings, as well as the Company’s professional awards in environmental protection and other fields.
“As a city-forming enterprise, MMK creates maximum opportunities for the development of its own employees and actively supports various groups of Magnitogorsk residents through its corporate projects and joint programmes. We strive to constantly develop the city’s infrastructure, reduce our environmental impact and improve the quality of life for Magnitogorsk residents. This is an important part of our work, which, we believe, is naturally reflected in this expert recognition,” said Pavel Shilyaev, CEO of MMK, commenting on the ranking results.