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Polyus shared its experience of developing its climate strategy

22 September 2022
Polyus shared its experience of developing its climate strategy

The 6th Baikal Risk Forum in Irkutsk has come to a close. Broadcasts of the forum attracted more than 100,000 views. Representatives from major Russian companies attended the forum in person. They discussed sustainability development opportunities, approaches to occupational safety culture, the prospects for import substitution in the new realities, rebuilding logistics and other relevant issues.

Risk management has been one of the key themes at the forum over the last six years. Alexander Kruchinin, Vice President for Health, Safety, Environment and Sustainability at Polyus, gave a presentation on the experience of developing the Company’s climate strategy that was approved on 15 August 2022. He said:

"Polyus recognizes the importance of assessing and managing climate-related risks in understanding what to do amid unfavorable developments. We are closely monitoring the change in the number of extremely cold and windy days and whether there are sufficient water resources. When developing our climate strategy, we identified that climate change not only poses risks but also opens up some opportunities for us. For example, there is an opportunity to make a profit from selling carbon units and gain access to additional funding, enhance the efficiency of operations and improve investment attractiveness."

Mr. Kruchinin added that Polyus has set itself the goal of achieving net-zero greenhouse gas emissions per tonne of ore processed by 2050. The Company intends to decarbonize its vehicle fleet, continue implementing energy and heat-saving programs and only consume energy from renewable sources.

He also stated that Polyus had assessed potential risks and found that none of them would critically affect the Company’s operations thanks to the favorable locations of the operating assets (Krasnoyarsk Territory, Khabarovsk Region, the Republic of Sakha (Yakutia), Magadan and Irkutsk Regions). However, Polyus remains committed to achieving a net-zero carbon footprint.

"Environmental management has been in place since 2015. Independent auditors assessed the safety culture as one of the most mature among other national industries. Safe work and respect for the environment are our priorities," emphasized Igor Tsukurov, Managing Director of Polyus Verninskoye.

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