Metalloinvest Presented The Results of The First ESG Rating of Suppliers

Metalloinvest and the B2B-Center trading platform presented the results of the supplier rating based on the values set out in the UN Global Compact. El 6 companies (formerly EPM Group), Bentonite Group of Companies, UZTM-KARTEX were recognized as the best in implementing ESG practices. 

The award ceremony of the rating leaders took place at the Metalloinvest stand at the Metal Expo 2021 exhibition in Moscow.

"Metalloinvest builds its business strategy on the principles of sustainable development, being aware of its responsibility to society and future generations," said Oleg Krestinin, Deputy General Director and Commercial Director of the Company. –We strive to work with partners who share our approaches, so we consider following the principles of sustainable development as one of the key factors in interacting with suppliers."

"Business in Russia is rebuilding processes in accordance with ESG practices, large companies are very serious about adhering to the principles of sustainable development. Our jointly created tool is designed to continue productive work in this direction and contribute to the creation of responsible supply chains in the future. We expect that the sharing approach to supplier verification will significantly save time and resources at the stage of rating reliable partners and will lead to market consolidation," said Andrey Boyko, Commercial Director of B2B-Center.

The unified methodology for supplier accreditation was developed by Metalloinvest together with the largest electronic trading platform in Russia for corporate procurement and sales B2B-Center and presented this summer. To date, 1.7 thousand companies have already been evaluated.

When accredited at the B2B-Center site, contractors provide information on the level of safety at their own production, manifestations of discrimination, compliance with the principles of fair competition, respect for the environment, and anti-corruption measures. Obtaining a high level of assessment for any of the parameters requires the provision of supporting documents. According to the results of the survey, points are assigned to counterparties and a single rating is formed.

In the near future, the functionality of the tool will be expanded with opportunities for conducting online and offline audits, which will provide a deeper rating.

Metalloinvest is exploring opportunities to exchange information with other market participants. This will make it possible to form a single rating of counterparties and will further promote the principles of sustainable development and the creation of responsible supply chains.