Metinvest

No leading practices were identified for this company.

No leading practices were identified for this company.

No leading practices were identified for this company.

No leading practices were identified for this company.

Metinvest has not publicly disclosed emissions reduction targets for any of its scope 1, 2 or 3 emissions originating from its operations or its supply chain. The company accounts for the scrap and scraps consumed in its waste management. However, it has no defined commitments and timescale for scrap reduction, a clear scrap reduction strategy or a robust method for quantification, verification and monitoring its performance.

Meitnvest has an Audit and Finance Committee that works directly on the risks, opportunities and disclosures related to climate change. However, there is no evidence of committee members possessing climate-related expertise or experience or of the company having incentives for managing the low-carbon transition. The company should provide evidence of a low-carbon transition plan that is aligned with a 1.5°C pathway or disclose other evidence of transition planning. Metinvest explicitly has noted in its report that it did not disclose the share of renewable energy consumed as this was not deemed material. So it is not clear whether the company promotes or utilises low-carbon electricity. Further, while the company reported that it uses scrap for its steel production, this only constituted a 14% share in 2022.

Metinvest has not publicly disclosed its research and development (R&D) expenditure for the past three years. There is a lack of quantitative data regarding the company’s investment in low-carbon technologies, in particular a breakdown of its investments in both mature- and non-mature climate technologies. Additionally, no company activity has been observed related to patenting of low-carbon technologies.

Metinvest does not publicly disclose a supplier or client engagement policy. There is no evidence that the company has recent and current activities in supplier or client engagement, and there is no disclosure available on the impact of such activities. The company also does not publicly disclose a list of trade associations it is a member of, nor whether it is a member of any trade associations that oppose climate-aligned activities. The company should publish its policy on engagement with trade associations and provide evidence on having a process to review the policy positions of alliances, associations coalitions or think tanks it is a member of or to which it provides support.

Metinvest does not publicly disclose its emissions data and does not have emissions reduction targets for any of its scope 1, 2 or 3 emissions originating from its operations or its supply chain. The company has not developed a vision of what its business will look like in a low-carbon future.

Metinvest has not taken any actions towards achieving a low-carbon transition aligned with the Paris Agreement. The company urgently needs to implement a low-carbon strategy that includes financial estimations and associated costs, as well as set out short- and long-term action plans.

Metinvest does not disclose any emissions intensity or absolute emissions data to analyse its emissions performance to date. There is also no evidence that the company has a strategy to engage its clients and suppliers to reduce emissions.

Metinvest does not provide information regarding its low-carbon capital expenditure and low-carbon mitigation R&D. The company also does not disclose whether it is creating or expanding low-carbon business models or implementing actions to decarbonise activities within its existing business models.

Metinvest does not have a transition plan and there is no evidence it intends to develop one in the near future.

The company publicly discloses a commitment to engaging in social dialogue with workers and unions. However, no relevant disclosure was found regarding the categories of stakeholders it engages with on a just transition. Nor was there any evidence to show the company’s ongoing social dialogue and meaningful engagement with affected stakeholders. _x000D_
No evidence was found of the company undertaking low-carbon transition planning to mitigate the social impacts of the transition on workers, affected stakeholders and its business relationships. Additionally, no evidence was found to demonstrate the company’s engagement in social dialogue and with stakeholders in its just transition planning.

No public commitment by the company was found stating its intention to create and support access to green and decent jobs as part of the low-carbon transition. Moreover, no evidence was found of the company’s actions to promote these jobs in a way that ensures gender balance and inclusion of vulnerable groups. _x000D_
No relevant disclosure was found of the company’s assessment of employment dislocation risks. Further, no public commitment by the company was found stating its intention to reskill and upskill workers displaced by the transition to a low-carbon economy. Additionally, no evidence was found that the company reskills and upskills workers in a way that ensures gender balance and inclusion of vulnerable groups.

No relevant disclosure was found to show if the company identifies the impacts of the low-carbon transition on social protection for workers and affected stakeholders, nor how it contributes to their social protection. Additionally, no evidence was found that the company expects its business relationships to contribute to the social protection of their workers and affected stakeholders. _x000D_
No relevant disclosure was found to show how the company identifies any misalignment of its lobbying activities with policies and regulations that support the just transition, nor of the measures it takes to address misalignment. Furthermore, no evidence was found that the company lobbies for policies and regulations for green and decent job creation; retention, education and reskilling; and social protection for workers.

The company commits to respecting human rights. However, no evidence was found that it commits to respecting the ILO fundamental rights at work and expects its business relationships to make the same commitment. Moreover, no evidence was found of the company’s process to identify, assess and mitigate salient human rights risks in its own operations and supply chain, or of the company disclosing the stakeholders whose human rights have been affected by its activities. The company does, however, have a grievance mechanism available to workers and external stakeholders. 

The company commits to respecting the health and safety of its workers and expects the same commitment from its business relationships. However, no evidence was found of the company having a time-bound target for paying all workers a living wage. No evidence was found that the company discloses the proportion of its direct workforce covered by collective bargaining agreements or its required working hours. The company discloses some indicators of workforce diversity, such as the age and gender of its workforce by employee category. However, no relevant disclosure was found of additional indicators of workforce diversity. No evidence was found that the company commits to gender equality and women’s empowerment.

The company commits to protecting personal data, but no evidence was found of the company having a privacy statement regarding the collection, sharing and access to personal data. No relevant disclosure was found of the company’s global tax strategy and the corporate income tax it pays in each relevant jurisdiction. The company does have a policy prohibiting bribery and corruption, and it includes corresponding clauses in its business relationship contracts. However, no evidence was found that the company has a lobbying and political engagement policy, or that it specifies that it does not make political contributions. No relevant disclosure was found of the company’s expenditure on lobbying activities.