Approach to sustainable development
Metalloinvest is a major employer in the regions where it has operations and views the welfare of its employees and their families as one of its key strategic priorities, no less important than meeting production targets. We have traditionally focused on creating favourable social and cultural environments, promoting sports and supporting healthcare and cultural initiatives in the communities where we operate.
Metalloinvest’s Strategy 2023 aims to strengthen the Company’s position as a major and highly efficient international producer of HBI/DRI and a regional producer of iron ore and high-quality steel. The Company also focuses on sustainable development through accomplishing strategic targets while balancing the interests of all stakeholders.
The strategy focuses on a strong HR policy, improved occupational health and safety standards, reduced environmental impact, and social and economic development of the local communities.
In 2015, Metalloinvest adopted the Corporate Social Responsibility and Charity Policy, which sets out uniform CSR principles and approaches, and the Stakeholder Engagement Policy, which guides systematic dialogue with stakeholders to take into account their interests that may be affected by the Company’s economic, social and environmental activities.
Metalloinvest’s key CSR principles
Alignment with development strategy: the Company’s CSR initiatives correspond with its business strategy and are aimed at increasing efficiency and the long-term sustainability of the business.
Legal compliance: the Company strictly adheres to laws and regulations, industry and ethical standards, and contractual and other obligations.
Consistency and continuity: the Company carries out its CSR initiatives on a consistent and continuing basis with stakeholder involvement.
Regional approach: charitable and social projects are implemented primarily in the regions where the Company operates, contributing to the sustainable development of Metalloinvest and the regions where it operates.
Targeted approach: the Company’s CSR activities centre around a targeted approach, which includes efficiency assessments of implemented projects and programmes.
Transparency: Кthe Company maintains regular communication with its stakeholders, considering their interests and expectations in the decision-making process.For more details on the Company’s sustainable development and stakeholder engagement, see the 2015 CSR Report.
The key principles of the Stakeholder Engagement Policy are consistent communication, transparency, materiality, completeness and responsiveness.
The Policy identifies the following key stakeholders of the Company:
For more details on Metalloinvest’s stakeholder profile, see the Company’s Corporate Social Responsibility Report for 2013–2014, section 2.4 Stakeholder Engagement.
The Company discloses full and accurate information on its performance using various forms and methods of communication and feedback.
Among other sources, Metalloinvest’s sustainable development activities are reflected in its CSR reports (published since 2008), which present data on the Company’s economic, social and environmental performance. In 2015, the Company adopted an annual cycle for its non-financial disclosures.For more details on the principles of responsible business management, see the Corporate Social Responsibility and Charity Policy, and the Sustainability section fn the Company’s website.