Nornickel ranked first in the Business Leaders: Environmental Expenses nomination in a rating compiled by RAEX (part of the RAEX international group of rating agencies). In 2017, Nornickel’s environmental expenses stood at 4.9% of revenue — triple the amount spent by European peers whose expenditure in the area average 1.5% of revenue.
According to experts, another significant trend of the past years is the fast-paced growth of major businesses’ investments in human capital (Nornickel ranks 22nd in the RAEX-600 rating of Russian companies). The Company is also placed fifth in the Business Leaders: Social Partnership rating. In the past year alone, Nornickel’s corporate social expenses and investments in human capital totaled RUB 227,000 per employee.
Another milestone was Nornickel’s Top 10 ranking in the ESG rating — the first of its kind in Russia compiled to evaluate a company’s commitment to environmental, social and governance aspects. Nornickel has been issuing non-financial reports since 2004. In 2016, it joined the United Nations Global Compact. This year, the Company has shifted its approach to non-financial reporting, for the first time issuing a report in line with sustainable development principles.
Nornickel traditionally tops the ESG ratings of international agencies. In 2017, the Сompany leapt to the 35th place in Sustainalytics’ rating of global metals and mining companies.
„ESG ratings are important in Europe. In 2019, the right to assign those in the EU will be regulated by law,” the agency experts say. „This is quite logical, given that investors make practically all their major decisions based on ESG criteria.”