Russian power and metals holding En+ (MOEX: ENPG), a leading global producer of low-carbon aluminium and renewable energy, has released its third report on the Company's progress towards carbon neutrality by 2050.
The report was discussed with analysts, experts, and investors during a business breakfast. From En+ side attended senior executives, including Irina Bakhtina, Chief Sustainability Officer, Elena Ivanova, Director of Capital Markets and Financial Products, Alexey Spirin, Director of Climate Risk Department, and Sergey Chestnoy, RUSAL's Official Representative for External Relations.
En+ continues to work towards its previously announced strategic plans for achieving carbon neutrality, including the interim target of reducing greenhouse gas emissions by 35% by 2035. For the Group's energy segment, which already comprises 80% low-carbon energy sources, decarbonization priorities include not only implementing energy-efficient technologies, constructing new generation facilities (hydro and wind power plants), and modernising existing hydroelectric power plants under the "New Energy" programme, but also expanding various tools designed to provide access to green energy for Russian industrial enterprises. Among these tools are green certificates, where the Holding is the undisputed leader in the Russian market by sales volume in 2023. The expert community highly evaluated the Company's own analysis of climate risks that may affect the water availability of Siberian rivers in the period up to the year 2100 and the list of measures for adaptation to climate change developed on its basis.
En+ Chief Sustainability Officer Irina Bakhtina noted: "En+ was one of the first companies in Russia to set carbon neutrality goals, and today we continue to move towards achieving this goal, despite the full range of external challenges and limitations, as well as increasingly noticeable proliferation of international standards. We must continuously seek new, effective solutions to the challenges of reducing climate impact, adapting to climate change, and ensuring sustainable business development overall. In our context, such solutions cannot be borrowed from compilations of ‘best corporate practices’. And since our efforts are reflected in the high ratings assigned to the Holding by national and international agencies, it means we are doing quite well."
Oleg Barkin, Deputy Chairman of the Management Board of Association NP Market Council, emphasized: "En+ has made a crucial decisive contribution to the development of the domestic green energy attribute certification system. Other countries should know that such a system has been established in the Russian market, is operational, and fully complies with international standards."
Vsevolod Gavrilov, Director of Energy Efficiency and Environmental Management Projects at Sberbank, added: “In the context of the formation of a global system of tracking products by carbon footprint, which Russian business needs to integrate into, the unique experience of En+ Group and its metallurgical business - RUSAL with the launch of ‘green’ aluminum products with a clear, manageable, transparent carbon footprint is important.”
The movement towards carbon neutrality also affects the metallurgical business. Energy-efficient technologies and cutting-edge approaches to greenhouse gas capture are being implemented at alumina division enterprises, while aluminum smelters are expected to transition to pre-baked anode technology, which will also significantly reduce greenhouse gas emissions.
