Severstal ad Crédit Agricole CIB sig Climate Memoradum, “Together towards a low-carbo future”

January 21, 2022

Severstal announces that Crédit Agricole CIB has joined the
steel company’s Climate Memorandum, “Together for a low-carbon Future”. The
Memorandum aims to support global efforts to prevent further climate

The memorandum was signed by Crédit Agricole CIB on
21st January 2022 in Moscow during the Climate Memorandum’s first
Steering Committee meeting. The meeting was attended by new and existing
partners to the agreement (Crédit Agricole CIB, Schneider Electric, Air
Liquide, SPECTA and Sveza) and other companies interested in signing the
agreement in the future. The first Steering Committee meeting was held online
due to restrictions in Moscow relating to the COVID pandemic.

Severstal created the Climate Memorandum to commit members
of its supply chain to measures that will support a reduction in their carbon
footprint, as part of its focus on collaboration for decarbonisation. Severstal
is one of the first steel producers in Russia to calculate its scope 3 GHG
emissions and is working closely with businesses that contribute to emissions
‘hot spots’ in the Company’s supply chain to help them reduce their carbon

Alexander Shevelev, CEO of Severstal, commented:

“Severstal pays close attention to the issue of climate
change. We take great efforts to minimise the carbon footprint of our
operations and also collaborate with our partners on joint decarbonization
initiatives. It is very encouraging to see the business community support our
initiative. The number of partners to our Memorandum is continuing to grow,
reflecting a mutual enthusiasm from responsible businesses to work together to
address global climate change.”

The Memorandum contains five guidelines as well as
recommendations for their implementation. Those who support the memorandum
commit to:

  • implementing the climate agenda within their corporate
    governance practices;

  • assessing greenhouse gas emissions and setting reduction

  • managing climate risks and adapting to climate

  • supporting the development and implementation of
    low-carbon technologies; and,

  • building responsible interaction with stakeholders.

François Martin, President of Crédit Agricole CIB AO,

“Crédit Agricole CIB welcomes Severstal’s Climate
Memorandum “Together towards a low-carbon future”. The Crédit Agricole Group is
a member of the Net Zero Banking Alliance Initiative of the United Nations
Environment Programme (UNEP) and, as such, is committed to aligning the GHG
emissions generated by its own activities and those related to its financing
and investments with the carbon neutrality trajectory in 2050. In line with the
Group’s Societal Project, Crédit Agricole CIB confirms its commitment to
support clients in their energy transition and decarbonisation

Enjoying leadership positions on Sustainable finance
markets, Crédit Agricole CIB is keen to accompany its clients’ sustainability
journey and truly hopes its expertise shared within Climate Memorandum “Together towards a low-carbon future” just launched by Severstal can help
foster the decarbonisation initiatives in the Russian steel

The full Memorandum is available on our website:






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