Climate changE

Nornickel closely monitors for global initiatives to reduce greenhouse gas emissions and is developing a strategy to manage the Company’s impact on climate change. The Company also has a long-term development strategy providing for the modernisation of its production assets through the deployment of best available technologies, improvement of energy efficiency, energy saving, and energy intensity reduction. The Company’s strategy takes into account key non-financial risks, including climate risk, as well as current trends in this space.

Nornickel’s Board of Directors considers climate change issues as a matter of priority and includes them in its discussions of the Company’s environmental strategy. The climate change matters are also high on the Company’s strategic and operational agendas and overseen by the First Vice President – Chief Operating Officer.

In 2019, the Company set up a working group including its Vice Presidents to monitor environmental programmes and initiatives including ones related to climate change. The group is led by Gareth Penny, Chairman of the Board of Directors.