NLMK Board of Directors approves Sustainable Development Policy
The Board of Directors of NLMK Group (LSE: NLMK; MOEX: NLMK), a global steel company, has approved the Company’s Sustainable Development Policy (hereinafter referred to as the “Policy”).
The Policy defines NLMK Group’s sustainability principles, goals and targets, as well as the mechanism for oversight of the Company’s ESG agenda by the NLMK Board of Directors. For example, NLMK’s Strategic Planning Committee has been tasked with identifying the Company’s strategy and objectives minimizing its environmental footprint, which includes reduction of greenhouse gas emissions as well as the review and approval of the relevant investment programmes. The Audit Committee will control the comprehensiveness of the Company’s ESG disclosure.
The NLMK Board of Directors has also approved the relevant changes to the Company’s Regulations on its committees, and has resolved to include the approval of the updated version of the Company’s Regulations on the NLMK Board of Directors into the agenda for its forthcoming Extraordinary General Meeting of Shareholders.
Leadership in sustainable development and safety is one of the four main pillars of NLMK Group’s Strategy 2022. These implemented changes will contribute to the accomplishment of this objective. These changes are aligned with best global practices and stakeholder requirements, and underscore NLMK Group's commitment to the principles and goals of UN Global Compact, which the Company is a participant of.
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore wind turbines.
NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.
NLMK has a highly competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 12M 2018, the Company generated $12 billion in revenue and $3.6 billion in EBITDA. Net debt/EBITDA stood at 0.25х. The Company has investment grade credit ratings from S&P, Moody’s, Fitch and Expert RA.
NLMK’s ordinary shares with a 19% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1.
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