Metinvest to invest $433 million in environmental projects by 2025
Metinvest to invest $433 million in environmental projects by 2025
Compared to 2012, the group's enterprises reduced total emissions by 33%
Metinvest Group will invest $433 million in environmental projects by 2025.
This was stated by Metinvest CEO Yuriy Ryzhenkov at the international conference Steel Success Strategies Online.
"Over the past decade, we have invested $344 million in environmental projects and plan to invest $433 million by 2025," he said.
According to him, the group's companies are already systematically working to reduce emissions - compared to 2012, total emissions have been reduced by 33%.
At the same time, in the future, the main factors forming competitive advantages will change significantly. In the long term, the factor of sustainable development, which includes increasing the environmental friendliness of production, will be among the main sources of competitiveness.
The head of Metinvest emphasized that environmental standards will gradually become stricter. As part of the agreement with the EU, Ukraine is implementing European legislation. By the end of 2020, a law on integrated emission permits is expected to be adopted.
In 2023, a full-fledged launch of the permit system, which will be based on the best available technologies and management methods, is expected.
As reported by GMK Center, Metinvest's environmental investments (capital and operating expenses) in 2019 amounted to $380 million, compared to $225 million and $263 million in 2017 and 2018, respectively.
In the first half of 2020, Metinvest invested $231 million in environmental projects. It is expected that in 2020, Metinvest's environmental investments will exceed the 2019 level.
"Metinvest Holding" – an international vertically integrated metallurgical company. The group's structure includes coal, coke-chemical, mining, metallurgical and rolling enterprises in Ukraine, the EU and the USA.
In 2019, the company ranked 42nd among the largest steel producers in the world, and 5th in the post-Soviet space.
Source <https://gmk.center/ua/news/metinvest-investuie-433-mln-v-ekologichni-proekti-do-2025-roku/>