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Metalloinvest features in WWF Top 10 companies for environmental responsibility

Steel News - Published on Thu, 13 Dec 2018

Image Source: metalloinvest.com
Metalloinvest has finished in 6th place in the WWF’s ratings of Russian metals and mining companies in the field of environmental responsibility. This is the leading ranking for companies in the ferrous metallurgy industry. The rating was prepared by the World Wide Fund for Nature and the National Rating Agency. The purpose of the rating is to increase the corporate responsibility of metals and mining companies and to create efficient stakeholder feedback channels within the industry.

Metalloinvest improved its position by 8 points as compared to its 2017 rating. The companies included in the ratings included the 34 largest Russian companies in ferrous and non-ferrous metallurgy, as well as gold, diamond and coal industries. Mr Andrey Varichev, CEO of Management Company Metalloinvest, said that “We wholeheartedly believe that long-term leadership and global competitiveness can be only be achieved if there is a consistent improvement in environmental performance.”

Metalloinvest uses the best available technologies in the construction and modernisation of its production facilities, enabling the Company to minimise its environmental footprint. Between 2013 – 2017, the Company spent RUB 37 billion on environmental protection measures and investments in environmental protection. Metalloinvest’s activities in environmental protection have been rated highly by the international agency EcoVadis. In November 2018, the Company was awarded the "Silver" level of recognition of corporate social responsibility practices. Metalloinvest was ranked in the top 11% of producers rated by EcoVadis globally in the manufacture of basic iron and steel industry (over 900 companies).

The WWF’s project started in 2015 and has enabled significant investment in securing the transparency of environmental information of companies in the sector. It has also allowed for the first comparable ratings of the level of companies’ environmental responsibility and the scale of their activities relating to environment. The ratings are purely based on publicly-available information. The key factors considered in the ratings include the availability, level of detail of disclosure and accuracy of environmental information.

The US Department of Commerce published the preliminary results of the administrative review of the countervailing duty order on steel concrete reinforcing bar from Turkey.

DOC determined that Icdas Celik Enerji Tersane ve Ulasim Sanayi AS which was the sole mandatory respondent, received countervailable subsidies during the period of review covering January 1 through December 31, 2016. Besides, the same net countervailable subsidy rate was assigned to the 11 remaining non-selected companies, for which an individual rate was not calculated, according to DOC.

At the same time, DOC is going to rescind the review for a set of companies (DufEnergy Trading SA, Duferco Celik Ticaret Limited, Ekinciler Demir ve Celik Sanayi AS), which timely filed no-shipments certifications. Because there is no evidence on the record to indicate that these companies had entries, exports, or sales of subject merchandise to the US during the period of review, DOC intends to rescind the review with respect to the mentioned companies. Metal Expert learnt. It was also preliminary determined that Habas Sinai ve Tibbi Gazlar Istihsal Endustrisi AS is not subject to this administrative review, so DOC intends to rescind the review for it as well.

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Posted By : Nanda Koijam on Thu, 13 Dec 2018
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