Metinvest Boosts Environmental Investments: Over $170 Million in Ecological Projects in 2024
Ukraine’s leading industrial group, Metinvest, continues to significantly enhance its commitment to environmental sustainability through substantial investments aimed at reducing its ecological footprint.
According to the company’s latest reports, in 2024, total environmental expenditures exceeded $170 million, with nearly $40 million allocated to capital investments, modernization projects, and the implementation of cutting-edge technologies designed to cut emissions of harmful substances.
Current operational costs accounted for over $129 million, reflecting a systematic and ongoing effort toward sustainable growth.
The primary focus of these investments is to lower greenhouse gas emissions, optimize energy consumption, transition to renewable energy sources, upgrade machinery, and improve water treatment processes.
Notably, environmental spending increases annually — in 2024, it grew by 2% compared to 2023, and by 5% relative to 2022, illustrating the company’s persistent push to meet European regulations such as MRV (monitoring, reporting, and verification), CBAM (Carbon Border Adjustment Mechanism), ESRS (Sustainability Reporting Standards), and ETS (Emissions Trading System).
For enterprises aiming to supply products to the EU and integrate into its market, understanding and meeting these standards translates into substantial investments in ecological initiatives.
Industry analysis shows that investments in metallurgy can generate economic growth up to 4.5 times, emphasizing the crucial role of environmental programs for sustainable development.
Metinvest affirms that such initiatives allow facilities not only to reduce environmental impact but also to save resources and cut costs.
The adoption of alternative energy sources, like biofuels derived from sunflower husks, helps decrease energy expenses and CO₂ emissions, while monitoring systems such as MRV, CBAM, and ETS provide necessary tools for efficiency analysis and managerial decision-making.
The company actively works on optimizing energy use at various facilities and gradually shifting to environmentally friendly energy sources.
For instance, at the Northern and Central GOKs, partial replacement of natural gas with biofuels like sunflower husks is underway, contributing to lower CO₂ emissions.
Moreover, Metinvest is implementing CO₂ emissions management systems, gaining tools to monitor and improve production processes in compliance with EU standards.
According to corporate representatives, these systems help not only to meet European criteria but also to reduce operational costs through resource efficiency.
As one of Ukraine’s largest investors, Metinvest has invested over UAH 28 billion since the onset of Russia’s full-scale invasion in February 2022, marking its vital role in the country’s economic recovery and sustainable development.