PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the
Group") (MICEX-RTS: MAGN; LSE: MMK), one of the world’s
largest steel producers, is pleased to announce that S&P Global
upgraded MMK's sustainability rating by 64% on 12th
November 2021.
According to the Corporate Sustainability
Assessment (CSA), which was published on 12th November by the
international credit rating and information agency S&P Global,
PJSC Magnitogorsk Iron & Steel Works has significantly
strengthened its position in terms of ESG.
The overall score assigned by S&P analysts,
based on the results of the assessment of MMK's activities aimed at
ensuring sustainable development, increased by 36 points, resulting
in a total score of 56 (out of a possible 100).
It’s clear to see that MMK’s work on ESG,
notably environmental protection, social policy and corporate
governance, has been appreciated by the S&P CSA analysts and the
score reflects that.
As a modern and responsible company, MMK is
working to ensure the fullest possible disclosure of information on
all aspects of sustainable development, every year it demonstrates
more and more transparency in these matters. “We conduct our
business in accordance with the generally accepted principles of
sustainable development, which presupposes a high degree of openness
of our company,” said Pavel Shilyaev, CEO of PJSC MMK.
MMK’s disclosure transparency is continually
improving and, as can be seen from the increased scores amongst ESG
agencies such as S&P, this does not go unnoticed at both national
and international levels.
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