MOSCOW: The Board of Directors of Novolipetsk Steel NLMK Group, a global steel company, has approved the Company’s Sustainable Development 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.

Edited by Kiran Khan