NLMK Group, a global steel company, will be participating in the 26th United Nations Climate Change Conference (COP26). From 31st October to 12th November 2021, world leaders and business representatives will meet in Glasgow to discuss programmes aimed at reducing greenhouse gas emissions, green financing, and global carbon market development.
As part of the Russian delegation’s activities, NLMK Group director Nikita Vorobyev will discuss the Company’s key decarbonization initiatives:
- By introducing new ore beneficiation technologies in 2021-2023, NLMK will increase the content of ferrum in its raw materials and reduce fuel consumption in blast furnaces, which will cut CO2 emissions by 800,000 tonnes per year.
- In 2023, a new power plant will be constructed at NLMK Lipetsk. It will run on by-product steelmaking gases, increasing NLMK’s share of captive generation from 65% to 95% and cutting greenhouse gas emissions by 650,000 tonnes per year.
- NLMK Group is planning to build a new low-carbon steel production chain based on hot-briquetted iron (HBI) made from captive iron ore.
- The Company is implementing a portfolio of R&D projects to study CO2 recovery and utilization, and the use of hydrogen in the production process.
- One of the Company’s strategic focus areas is developing its product offering for customers that enable carbon footprint reduction: wind power generation, electric vehicles, energy-efficient grids and equipment.
In 2016-2020, NLMK’s greenhouse gas reduction programme enabled a 4% reduction in CO2 emissions per tonne of steel. By 2023, the Company plans to decrease this indicator by a further 3%.
For more information on NLMK Group’s Climate Policy, please follow the link.
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. The Company has investment grade credit ratings from S&P, Moody’s, Fitch, and Expert RA.
NLMK’s ordinary shares with a 20.7% 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. For more details on NLMK shareholder capital, please follow the link.
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