Norilsk Nickel Climate Change Strategy
Responsibilities for managing climate change matters are allocated among the Board of Directors, the Management Board, and senior managers.
The Board of Directors reviews and approves Environmental and Climate Change Strategy targets and risk appetite and oversees the management of climate-related risks.
To ensure deeper consideration of these matters, the Board established the Sustainable Development and Climate Change Committee.
The implementation of risk management process, including climate risks, is assigned to the Risk Management Committee under the Management Board of PJSC
The organisational units of the Head Office, branches, and
Nornickel recognises the importance of climate change and is taking measures to better adapt its infrastructure while also working to reduce greenhouse gas emissions.
The Company continues to integrate climate risk management into its business processes in line with the TCFD recommendations and seeks to align its disclosures with
The Company has chosen the Sustainable Palladium as its baseline scenario, according to which traditional industries are expected to remain centre stage along with the growing green economy. In particular, internal combustion engine vehicles are expected to retain a large market share, and long-term demand for palladium will continue to be driven by both hybrid vehicles and potential new applications. The other two scenarios are used by the Company to stress-test climate-related risks.
1 GHG emissions were calculated as per the GHG Protocol Guidelines. Estimates of greenhouse gas emissions for the Group included the following greenhouse gases: direct emissions of carbon dioxide (CO2), nitrogen oxide (N2O), and methane (CH4), mostly from gas transportation, including the Nadezhda Metallurgical Plant under the Sulphur Project, and heat and electricity supplies to household consumers.
The Company’s own energy assets are located in the Norilsk Industrial District and use low-carbon sources for energy generation, such as natural gas and renewable hydropower. Diesel fuel, fuel oil, petrol, and jet fuel are used by Nornickel’s transport assets. Use of coal by energy assets is minimised to only small amounts in certain production processes.
The Company’s key renewable energy source is hydropower generated by the Group’s Ust-Khantayskaya and Kureyskaya HPPs. Natural gas accounts for almost 100% of the remaining types of fuel used by the Company’s heat and power plants.
Nornickel attaches great importance to improving the energy efficiency of its existing and future production sites. In 2025, the Company invested more than USD 429 million in upgrading its energy infrastructure. The investments cover multiple projects related to equipment replacement at thermal and hydropower plants and upgrades to fuel tank storage facilities, power grids, and gas pipelines.