Nornickel’s climate change strategy and goals
TCFD Ma, TCFD Mc, IFRS S2 6a (i), IFRS
S2 6a (v), IFRS S2 14a
Key focus areas under the 2030 Sustainable
Growth Strategy
Nornickel is aware that sustainable development
is impossible without an efficient holistic approach to managing natural
resources that would respect the interests of all stakeholders.
In particular, the Company’s customers have high expectations regarding our
compliance with international sustainability principles and standards. In addition,
the Company maintains ongoing dialogue with shareholders, non‑governmental
organisations, local communities, and other stakeholders in the context
of achieving SDG 13: Climate Action. The sustainability agenda is one
of the key drivers in Nornickel’s planning of strategic initiatives and
investment projects.
The low‑carbon transition
of the global economy is opening up new opportunities
for Nornickel’s green metals. The decarbonisation of transport and
the focus on renewable and hydrogen energy will support long‑term growth
in demand for Nornickel’s products.
In terms of mineral resource base
development, Nornickel’s strategy provides for production upgrades, maximum
utilisation of existing mining and concentration capacities, and
the development of the South Cluster
South Cluster is Nornickel’s project
to develop reserves in the northern part of the Norilsk‑1
deposit.
. The Company also plans to develop
a deposit located in the Murmansk Region that holds Russia’s largest lithium
reserves – one of the key metals required for the global energy
transition. With all these projects under its belt, Nornickel is perfectly
positioned to meet the world’s growing demand for green metals.
To reduce its environmental impact,
the Company continues to implement the Sulphur Project, which will cut
sulphur dioxide emissions at Nadezhda Metallurgical Plant. The technology used
is based on neutralising sulphuric acid with limestone to produce gypsum –
a non‑hazardous type of waste – which is then disposed
of in a dedicated tailings storage facility. In 2024, absolute sulphur
dioxide emissions were reduced by 22% compared to the 2017 base year.
Although the Sulphur Project will significantly improve the quality of life
for local residents, its implementation inevitably leads to an increase
in greenhouse gas emissions.
An essential element of the Strategy
is the modernisation of energy infrastructure, which will improve energy
efficiency while also enhancing the reliability of power supply
to the Company’s production facilities.
