Metinvest increased environmental spending and improved energy efficiency in 2024

The company allocated $170 million to environmental protection and increased investment in energy efficiency by more than 50%

In 2024, despite the difficult conditions of war, Metinvest Group increased its environmental spending and strengthened its focus on energy efficiency. According to a new report, the company allocated $170 million to environmental protection, which is 2% more than in 2023. Investments in energy efficiency projects also increased by more than 50% year-on-year, to about $17 million.

The increase in spending is related to growth in production: steel production increased by 5% year-on-year, and iron ore concentrate production by 42% year-on-year. This led to a certain increase in environmental impact, in particular, air emissions increased by 5%, water consumption by 6%, and waste volume by 10%. At the same time, 92% of water was reused or recycled, which is 1 p.p. higher than in the previous year.

The company continues to develop its energy independence, in particular through the installation of gas piston units and plans to launch solar power plants. In 2024, Metinvest also implemented sludge compaction projects at the Northern Mining, which will reduce the load on tailings storage facilities.

By the end of 2024, 15 of Metinvest’s assets were certified according to the ISO 14001:2015 environmental standard, and seven were certified according to the ISO 50001:2011 energy management standard.

In this way, the company demonstrates a systematic approach to environmental management and a gradual transition to sustainable production, even in wartime conditions.

As GMK Center reported earlier, Metinvest is actively preparing for new conditions and transforming its business in accordance with ESG (Environmental, Social, Governance) principles. The EU is introducing new non-financial reporting standards that are radically changing business requirements. Now, to operate in the European market, companies need more than just high-quality products — they must report on their environmental impact, social responsibility, and corporate governance.