Metinvest participated in the development of the Green Strategy of Ukraine for 20 years

Metinvest participated in the development of the Green Strategy of Ukraine for 20 years

Katerina Belousova

The restoration of Ukraine must now comply with ecological, social and managerial principles

Metinvest group participated in the formation of the main principles of the Green Strategy of Ukraine for the next 20 years, which were developed at the International Sustainable Development Forum 2023 in Kyiv and The Hague, the Netherlands.

The strategy includes a set of initiatives, a clear road map and a practical action plan, which will be presented to the government of Ukraine later, reports the press service of  Metinvest.

It is noted that the strategy will be based on:

  • principles of sustainability, taking into account the requirements of European and Euro-Atlantic integration;
  • principles of international partnership;
  • current challenges.

The message said that the forum brought together more than 700 participants who discussed the topics of Ukraine's transition to a green economy, financing the country's reconstruction after the war, and conditions for the sustainable reconstruction of communities.

"Formal business compliance with ESG standards [“environment”, “social sphere”, “corporate governance”], does not yet guarantee the transition to a green economy, because it meets the expectations of financial institutions only. To be successful in the long term, it is worth focusing on the constantly changing values ​​of customers. In the end, the principles of sustainable development become decisive and give the company competitive advantages. At the same time, compliance with these principles means significant costs. And this requires awareness and the ability of consumers to pay conditional premiums for sustainable development, as is the case in Western societies, or government support through a system of motivational, regulatory and fiscal instruments. It is precisely these issues that the government should pay attention to at the macroeconomic level." – said Vitaly Kovalenko, director of the department of sustainable development and environmental management of the "Metinvest" group.

The First Deputy Head of the National Bank of Ukraine, Kateryna Rozhkova, emphasized that the recovery should already take place according to ESG standards, because it will significantly save resources in the future.

"The world is ready to provide funds to those companies that are mentally ready to comply with environmental, social and management principles, which in turn opens up many opportunities," she said.

The Ministry of Economy of Ukraine emphasized that the green transition plan of Ukraine, which is being developed by the department, cannot be implemented without consolidation of efforts with the public sector and business. And adherence to the principles of sustainable development will contribute to the faster pace of recovery of the Ukrainian economy in the post-war period.

It is noted that the forum also discussed the impact of the global green agenda and the formation of a recovery plan for Ukraine based on the principle of circular economy.

Head of the Department of Climate Strategy and Regional Development of the European Bank for Reconstruction and Development, Dimitri Gvindadze, emphasized that the restoration of Ukraine is one of the main priorities of the EBRD, the country's largest investor. And the green transition in Ukraine should cover all levels – from production to taxation.

Earlier, EcoPolitic wrote, that Metinvest group announced its intention to produce green steel (DRI-products) at its rebuilt plants in Mariupol and Avdiivka, in Donetsk region, after de-occupation.

As EcoPolitic reported earlier, Metinvest joined the government platform regarding green restoration of the steel sector in Ukraine.

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