Polyus Gold topped Environmental Transparency Rating for Mining and Metal Companies in Russia

The rating is based on data available in the public space on the activities of companies in the Russian Federation.

"Publicly available information includes publicly available annual financial and environmental reports and reports on environmental protection (including regional ones); documents published on the company's official websites (including those of the company's subsidiaries) with links to the relevant pages in the website menu; interviews of the company's spokespeople for federal and regional media," WWF Russia reported.

The fund notes that the rating allows stakeholders to receive objective and comparable information about the level of transparency of companies and the scale of the impact of their activities on the environment.

The 2022 ranking includes 39 companies. The leader of the list is Polyus Gold, the second place is Novolipetsk Iron and Steel Works, and the third is Metalloinvest. They are followed by Severstal (4th place in the ranking), ALROSA (5th), Magnitogorsk Iron and Steel Works (6th), Phosagro (7th), Norilsk Nickel (8th), Polymetal (9th). Kuzbassrazrezugol, Uralkali and RUSAL ranked 10, 11th and 12th respectively.

The rating is calculated for the largest companies (by key types of minerals) operating in Russia.

The selection of companies for the rating is based on the State Report "On the Current Condition and Utilization of Mineral Resources of the Russian Federation." Additionally, the rating includes companies operating in WWF's priority ecoregions (in terms of biodiversity conservation).

The rating is calculated annually, which allows you to get the dynamics of companies and the industry as a whole.

"Since the launch of the rating in 2016, we have recorded achievements in terms of the course towards openness and increasing the environmental responsibility of companies in the sector. Unfortunately, the crisis year of 2022 made adjustments to this course, and some companies from our rating were forced to restrict access to environmentally significant information. But we hope that this is a temporary measure, and next year we will again see their information on the environmental impact of our project," WWF-Russia notes.

The rating is based on the criteria outlined primarily in the Main Provisions of the Environmental and Social Responsibility Policy for Mining Companies , as well as in a number of international documents, such as the IRMA Standard for Responsible Mining Operations, GRI Sustainability Reporting Guide , the EBRD's Sectoral Strategy and others.

The methodology is discussed with all interested parties at face-to-face and distance events. After discussions, the approved methodology is made publicly available on the WWF-Russia website.

"The purpose of the rating is to help reduce the burden on the environment and increase the efficiency of the use of natural resources, as well as the conduct of socially responsible business in the Russian mining and metallurgical sectors," WWF noted.