S&P Global upgrades MMK's sustainability rating
16 november 2021
PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MICEX-RTS: MAGN; LSE: MMK), one of the world's largest steel producers, is pleased to announce that S&P Global upgraded MMK's sustainability rating by 64% on 12th November 2021.
According to the Corporate Sustainability Assessment (CSA), which was published on 12th November by the international credit rating and information agency S&P Global, PJSC Magnitogorsk Iron & Steel Works has significantly strengthened its position in terms of ESG.
The overall score assigned by S&P analysts, based on the results of the assessment of MMK's activities aimed at ensuring sustainable development, increased by 36 points, resulting in a total score of 56 (out of a possible 100).
It's clear to see that MMK's work on ESG, notably environmental protection, social policy and corporate governance, has been appreciated by the S&P CSA analysts and the score reflects that.
As a modern and responsible company, MMK is working to ensure the fullest possible disclosure of information on all aspects of sustainable development, every year it demonstrates more and more transparency in these matters. "We conduct our business in accordance with the generally accepted principles of sustainable development, which presupposes a high degree of openness of our company," said Pavel Shilyaev, CEO of PJSC MMK.
MMK's disclosure transparency is continually improving and, as can be seen from the increased scores amongst ESG agencies such as S&P, this does not go unnoticed at both national and international levels.