In 2024, the mining and metallurgical group Metinvest increased its spending on environmental projects by 2% compared to 2023, to $170.5 million.
According to NV Business, citing the group’s press service, capital investments in environmental projects reached $39.8 million, current expenditures amounted to $129.1 million, and other expenditures amounted to $1.5 million.
As noted, further integration into EU markets, where the “green agenda” dominates, is encouraging Ukrainian businesses to invest in reducing harmful emissions and saving energy resources despite the war.
Environmental investments in Ukraine are concentrated in several main areas: reducing greenhouse gas emissions, optimizing energy consumption, introducing renewable energy, modernizing equipment, and improving water treatment. These initiatives are driven by the need to comply with European legislation, in particular systems such as MRV (monitoring, reporting, and verification), CBAM (cross-border carbon adjustment mechanism), ESRS (sustainable development reporting standards), and ETS (emissions trading system). For every company that is ready to supply its products to the EU and integrate into the European community, this terminology translates into investments in environmental projects.
In particular, companies that pollute the air and consume a lot of electricity and natural gas are forced to address the issue of production modernization. For example, some Metinvest companies are optimizing their energy consumption and gradually switching to alternative energy sources. For example, at the Northern and Central GOKs, natural gas has been partially replaced by biofuel (sunflower husks), which is already contributing to a reduction in CO₂ emissions.
The Group is implementing CO₂ emission management systems such as MRV, CBAM, ESRS, and ETS. These systems enable us not only to comply with European standards, but also to optimize production processes, reducing fuel and energy costs. Compliance with these systems is expected to not only reduce the environmental impact but also provide economic benefits: lower energy costs, increased production efficiency, and the ability to export to the EU without interruption.
Environmental initiatives enable companies to not only reduce their impact on the environment, but also save money. The use of alternative energy sources, such as biofuels, reduces energy costs, while monitoring systems such as MRV and ETS provide tools for analyzing efficiency and making management decisions.
Metinvest is a vertically integrated group of mining and metallurgical companies. Its enterprises are located in Ukraine, in the Donetsk, Luhansk, Zaporizhia, and Dnipropetrovsk regions, as well as in the European Union, the United Kingdom, and the United States. The main shareholders of the holding are the SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
