OAO MMK - Magnitogorskiy Metallurgicheskiy Kombinat

11/22/2021 | Press release | Distributed by Public on 11/22/2021 02:17

MMK tops ESG Transparency Ranking of Russian companies

The Expert RA rating agency ranked Magnitogorsk Iron & Steel Works PJSC among the leaders in its ESG-transparency rating of companies and banks.

Commending MMK's work in non-financial reporting, the experts awarded the Company top marks in all three criteria: E (environmental), S (social) and G (governance). MMK's final score was 2.00, the highest possible score. At the conference titled "ESG Transparency of Russian Companies: How to Achieve, Assess and Earn?" held on November 17 in Moscow, MMK received a certificate and a commemorative award from Expert RA for leadership in ESG transparency among ferrous metals companies.

MMK has consistently worked to improve the openness and transparency of its ESG reports: in 2021, detailed information on MMK's sustainability performance was integrated into the 2020 Annual Report. And in August this year, in addition to the Annual Report, the company published its ESG Data Pack, a complete database of the Company's sustainability performance over the past five years. Anyone interested can find key data relating to MMK's environmental, social and corporate governance performance on the company's website.

"Today, indicators of sustainable development play no less a role for a Company's reputation than financial statements," said Pavel Shilyaev, CEO of MMK. "We pay a lot of attention to the environment, social responsibility, transparency of corporate governance and, of course, we are working to ensure that the general public can clearly see the results of our activity in this area. I am very pleased that our efforts are bearing fruit and that experts appreciate MMK's openness in the area of sustainable development."

Expert RA launched the annual ESG-transparency ranking of companies and banks in 2021: it replaces the Annual Reporting Contest, which was held until 2020. According to the agency, the new ranking should become a convenient indicator system for investors and issuers on best practices of ESG reporting and provide access to consolidated information on the state of the market.