Severstal approves sustainability strategy to 2030

The Board of Directors of Severstal has approved the Company’s sustainability strategy to 2030, titled “Together towards sustainable metallurgy of the future”. The document expands the list of the Company’s public goals on environmental protection, occupational health and safety, regional development and personnel training. In accordance with best global practices, the sustainability strategy will be reviewed and supplemented annually based on the needs of the Company’s stakeholders.

Severstal continues to carry out environmental and social activities as well as health and safety measures to ensure zero fatalities among its employees and contractors. The Company also reaffirms its previously announced targets to reduce its greenhouse gas emissions intensity by 10% compared to the 2020 baseline by 2030 and to reduce pollutant emissions by 13% compared to the 2017 baseline by 2025. Severstal is also undertaking new commitments, including a target to increase the share of waste recycled to 98.5% by 2030 compared to the 2019 baseline.

For each goal, an action plan is developed and cascaded to every department and division within the Company. The strategy also calls for the expansion of the list of management’s sustainability-related key performance indicators (KPIs); this list already includes KPIs for reducing the Company’s climate impact and ensuring occupational health and safety.

“Sustainability for us is a cornerstone of our long-term competitiveness and an integral part of our business strategy, which is focused on leadership in terms of value creation. Our new sustainability strategy is based on our extensive experience in implementing the best sustainability practices. We are participating in the Clean Air federal project and reducing CO₂ emissions, and we are also one of the largest taxpayers in the regions where we operate. For 2023, we plan to implement more than 300 corporate social responsibility projects with a total investment of more than RUB 3.1 billion. Every year we increase the scope of our work in this area, so we decided to approve a comprehensive strategic document that will enable us to take a more systematic approach to achieving our goals, make those goals more ambitious in the future and involve an increasing number of participants in the process”, said Alexey Mordashov, Chairman of Severstal’s Board of Directors.

Severstal's new sustainability strategy has been published on the Company's website and is available here.