Eurasian Resources Group named by ICDA as the best-in-class for ESG Governance at the Chrome Industry Sustainability Awards 2023
Eurasian Resources Group (“ERG” or “The Group”), a leading diversified natural resources group headquartered in Luxembourg, is pleased to announce that it received a Sustainability Award, in the Governance category, from the International Chromium Development Association (ICDA), where TNC Kazchrome, a subsidiary of ERG and the world’s largest ferrochrome producer by chrome content, is a member.
The Sustainability Award recognises exceptional performance over 2022 and demonstrates The Group’s commitment to going above and beyond the standard requirement to responsibly source chromium. The Sustainability Award in the Governance category recognises mining and metals operators that have implemented significant measures in the areas of transparency and anti-corruption. Further, the Award evidences The Group’s commitment to ESG policies and sustainable practices across its global operational portfolio.
In 2021, ERG created the “Sustainable Supplier Award” to assess the credibility of product suppliers. ERG’s Governance team requested that its suppliers’ complete questionnaires concerning ESG policy and practices. ERG undertook a comprehensive analysis of the data received from its supplier partners and scored each against ESG policy guidance and frameworks. Further, in 2022, ERG implemented a pilot sustainable supplier scheme with technology company Sirius, to track and monitor the sustainability credentials of contractors and suppliers. The pilot enabled The Group to effectively rank and support its suppliers who put ESG policies and practices at the core of their business operations.
Ms Sheraz Neffati, Executive Director, International Chromium Development Association, said: “Over the years, we have made sustainability and ESG a key focus of ICDA's activities. We are proud of the growing awareness and number of valuable initiatives developed by our members, including Eurasian Resources Group's Sustainable Supplier Award. We believe in leading by example and are pleased to be counting on responsible members such as ERG to set the benchmark for ESG best practices.”
Mr Benedikt Sobotka, CEO of Eurasian Resources Group and Co-Chair of the Global Battery Alliance, said: “We are honoured to have received this recognition from ICDA, which is testament to the energy and determination our teams demonstrate to ensure that ESG is at the heart of all that we do. We are at the crossroads of one of the most exciting transformations in economic history and I am proud that Eurasian Resources Group is playing a key role in this. We know there is still much to do, however by acting responsibly and in partnership with others, I am confident that the transition to a green economy can and will be achieved sustainably.”
Mr Konstantin Pravednikov, ERG’s Group Head of Sales & Marketing, said: “ERG is leading the industry towards a sustainable future. With this award, I am immensely proud of our team who, again and again, go above and beyond the industry standard. This will also serve to motivate us further as we continue to embed ESG practices at different enterprises.”
Ms Galina Donnik, ESG Program Lead at ERG, said: “It was an honour for ERG to participate in the ICDA awards and to win. For us, it’s important to not only implement best sustainability practices internally, but also to exchange experiences, raise awareness and support all our stakeholders in this important journey. The establishment of the Sustainability supplier award by our procurement team is one key example that has helped us to share best practices and reward those suppliers who value and develop sustainability as one of the core components of their business.”
Mr Sergei Prokopiev, Head of Chrome Division, General Director of TNC Kazchrome JSC, said: “This is a very significant public recognition that shows the importance that we place on ESG. Our Sustainable Supplier Award is the first of its kind in Kazakhstan and will serve as an example for mining and metals operators across Central Asia.”
Notes to editors:
In 2021, ERG’s Kazchrome was one of the first 6 companies globally to receive the ICDA’s ‘Responsible Chromium Label’. In 2022, it also received the Ecovadis Platinum Award being ranked in the top 1% of companies in the global iron and steel industry.