Norilsk Nickel increases focus and efforts on enhancing its corporate governance framework through continuous improvements to the quality and maturity of existing governance practices.
Key numbers
Best-in-class Corporate Governance Standards
Remuneration Linked to ESG Performance: 40% of the Group’s KPI is linked to ESG performanceNo emergencies on a regional and federal scaleLong-term KPIs linked to sustainability targets to be implemented Performance Evaluation Policy for Board of Directors of OJSC MMC Norilsk Nickel
Focus on Sustainable Development Evgeny Shvarts — Independent Director, since 2019, Member of the Strategy Committee, Norilsk Nickel, Member of the Board of Biodiversity Conservation Centre (BCC), Charity Foundation, Ex-director for Conservation Policy, WWF RussiaImplementation of the new ESG-oriented corporate governance structureUpdated system of environmental supervision, risk management and monitoring
Comprehensive and transparent ESG reportingAnnual sustainable development reports prepared according to global reporting standards (GRI) and assured by a third partyRegular communications with all leading ESG rating agencies/investorsBoard of Directors Committee on Sustainable Development and Climate Change has been created to oversee environmental mattes
Board of DirectorsSustainable Development and Climate Change Committee was established Increased focus and environmental oversight over strategic initiatives; strong commitment to the environmental agenda
Senior managementRisk Management Committee chaired by President Vladimir Potanin set up to improve risk controls and put environmental risks under greater scrutinyVladimir Zhukov was appointed as a Vice President for Investors and Sustainable Development
Head OfficeSustainable Development Department established to lead the transformation in line with international best practices and global industry principlesNew Innovations Department established to lead the development of green technologies (development of CleanTech)New Environmental Department (outside of Operations) created to improve environmental risk management and ensure independent internal oversight of environmental aspectsNew Environmental Inspection created as part of Internal Controls and Audit to improve internal environmental risk assessment and auditRenewable Energy Department led by Vice President for Energy set up to develop renewable energy projectsCorporate Security Unit restructured to report to the Company’s President. Key objectives: working more closely with Group companies and business units across all production facilities and taking the liaison with federal and regional law enforcement agencies to the next level. The unit will also focus on monitoring production facilities, preventing incidents and implementing information security solutions
DivisionsGovernance over the Group’s key facilities improved, with the heads of Norilsk and Kola production units overseeing auxiliary operationsNew Deputy Director, Ecology, in the Polar Division has been established Environmental Monitoring Centre and local technical and production risk committees set up to enhance local risk controls and focus on environmental mattersEnergy Division established, with Vice President Evgeny Fyodorov reporting directly to the Company’s President as its head
Read more on Corporate Governance:Principles and approachGovernance StructureCompany’s PresidentBoard of DirectorsCompliance with the Corporate Governance CodeList of current policies and codes