Transparency Rating of Environmental Responsibility of Mining and Metals Companies
Companies that extract and process minerals can make a significant contribution to the sustainable development of many regions and Russia as a whole. To make this happen it is necessary for mining and metals companies to reach the high level of environmental responsibility, be ready to apply the most effective measures to minimize a negative industrial impact on environment, increase resources and power conservation.
One of the effective ways to achieve a high level of environmental responsibility for business, along with the optimization of state regulation, is to increase access to environmentally relevant information and improve corporate policies, standards and practices.
The Transparency Rating of Environmental Responsibility Project for Mining and Metals Companies of Russia has started in 2015 under the initiative of WWF Russia and UNDP/ GEF / Ministry of Natural Resources and Environment of the Russian Federation Project «Mainstreaming Biodiversity Conservation into Russia’s Energy Sector Policies and Operations». At the first stage, WWF Russia has developed the Rating methodology that was discussed with experts and environmental organizations, and tested this methodology in early 2017. Following the analysis of the results of the pilot Rating and discussions with the experts, the final Rating methodology was significantly changed. Specifically, quantitative indicators are now compared not with industry averages, but with their level for each company for the previous year. In 2017, the Rating is calculated under the
The sectoral transparency Rating of environmental responsibility is aimed to become a new tool both to increase the corporate responsibility of mining and metals companies and to create effective feedback mechanisms for interested parties.