transparent and fair corporate governance
Posted: Sun Dec 22, 2024 9:37 am
Effective ESG management also helps companies attract and retain professionals who value working for an ethical and socially responsible company.
ESG principles include a wide range of actions and initiatives:
Environmental
reducing carbon emissions, using renewable energy sources, waste management and preserving natural resources.
Social
ensuring fair working conditions, developing corporate culture, participating in social projects and korea phone number supporting local communities.
Governance
, respect for shareholders' rights and ensuring equality.
The impact of ESG on business is obvious: companies that follow these principles improve their reputation, increase investor and consumer confidence, reduce risks and gain competitive advantages in the market.
Why Industrial Corporations Need Sustainable Development
Industrial corporations play a key role in the global economy and have a significant impact on the environment and society. Sustainable development is becoming not just an ethical choice for them, but also a strategic necessity. According to the National Rating Agency, in recent years, 30% of Russian industrial companies have reduced their carbon footprint, more than 50% of companies have reduced water consumption, and about 40% have reduced the amount of waste sent to landfill.
In 2024, almost all industrial companies retained the practice of publishing non-financial reports. This allows stakeholders to receive fairly complete information about the prospects for sustainable development of companies even under sanctions. The most active in publishing reports are companies in the mineral extraction and processing sectors, the chemical industry, and the electric power industry. Companies from other industrial sectors, with a few exceptions, do not publicly disclose sustainability reports.
The largest number of ESG practices in the group with an advanced level of integration falls on metallurgy (8 companies out of 26). This may be due to the high ESG requirements of buyers, suppliers and investors.
Let's look at several cases of Russian companies that are successfully implementing the principles of sustainable development.
MMK
"MMK makes a significant contribution to the improvement of the city, supports medical, cultural and educational institutions. A separate area of work is the reduction of man-made impact. Here, impressive results have been achieved in recent years: according to objective measurements, the air in Magnitka has become 2.66 times cleaner since 2017. At this rate, in the coming years, Magnitogorsk will approach the air quality of cities that do not have such active production, and will receive the status of "Clean City"
Yaroslava Vrubel
Yaroslava Vrubel
Director of Sustainable Development and Investor Relations, MMK
MMK became one of three Russian companies included in the Sustainability Yearbook 2022 - a rating of global companies that have achieved outstanding results in ensuring sustainable development. In 2023, the plant reduced emissions of pollutants into the atmosphere by 9%, and reduced discharges of pollutants into water bodies by 19%. In addition, the comprehensive air pollution index (CIPA) in Magnitogorsk fell by 7%.
ESG principles include a wide range of actions and initiatives:
Environmental
reducing carbon emissions, using renewable energy sources, waste management and preserving natural resources.
Social
ensuring fair working conditions, developing corporate culture, participating in social projects and korea phone number supporting local communities.
Governance
, respect for shareholders' rights and ensuring equality.
The impact of ESG on business is obvious: companies that follow these principles improve their reputation, increase investor and consumer confidence, reduce risks and gain competitive advantages in the market.
Why Industrial Corporations Need Sustainable Development
Industrial corporations play a key role in the global economy and have a significant impact on the environment and society. Sustainable development is becoming not just an ethical choice for them, but also a strategic necessity. According to the National Rating Agency, in recent years, 30% of Russian industrial companies have reduced their carbon footprint, more than 50% of companies have reduced water consumption, and about 40% have reduced the amount of waste sent to landfill.
In 2024, almost all industrial companies retained the practice of publishing non-financial reports. This allows stakeholders to receive fairly complete information about the prospects for sustainable development of companies even under sanctions. The most active in publishing reports are companies in the mineral extraction and processing sectors, the chemical industry, and the electric power industry. Companies from other industrial sectors, with a few exceptions, do not publicly disclose sustainability reports.
The largest number of ESG practices in the group with an advanced level of integration falls on metallurgy (8 companies out of 26). This may be due to the high ESG requirements of buyers, suppliers and investors.
Let's look at several cases of Russian companies that are successfully implementing the principles of sustainable development.
MMK
"MMK makes a significant contribution to the improvement of the city, supports medical, cultural and educational institutions. A separate area of work is the reduction of man-made impact. Here, impressive results have been achieved in recent years: according to objective measurements, the air in Magnitka has become 2.66 times cleaner since 2017. At this rate, in the coming years, Magnitogorsk will approach the air quality of cities that do not have such active production, and will receive the status of "Clean City"
Yaroslava Vrubel
Yaroslava Vrubel
Director of Sustainable Development and Investor Relations, MMK
MMK became one of three Russian companies included in the Sustainability Yearbook 2022 - a rating of global companies that have achieved outstanding results in ensuring sustainable development. In 2023, the plant reduced emissions of pollutants into the atmosphere by 9%, and reduced discharges of pollutants into water bodies by 19%. In addition, the comprehensive air pollution index (CIPA) in Magnitogorsk fell by 7%.