Climate change
The current and future effects of the global average temperature increase may have an adverse impact on all areas of human life, including business.Joining efforts at the international level and participation of corporate players is necessary to combat climate change and achieve the goals of the Paris Agreement to limit the global average temperature rise to well below 2°C above pre-industrial levels.
Uralchem supports this initiative and improves production processes to reduce greenhouse gas (GHG) emissions. The Company also addresses other climate change trends including the EU initiative to introduce carbon border adjustment mechanism.
In 2023, Uralchem continued to improve its carbon management system. A significant step in this direction was the adoption of the Climate Policy, which consolidates the Company’s goals and commitments in addressing climate change and reducing greenhouse gas (GHG) emissions. The climate risk management process is integrated into Uralchem’s corporate risk management system. Uralchem has identified and assessed key climate change risks, categorizing them into transitional and physical climate risks in accordance with TCFD recommendations.
Uralchem is implementing a new type of an afforestation project, within which over 15,000 oak, hazel and ash seedlings were planted on three plots with a total area of 7 hectares. The uniqueness of the project lies in its integrated approach to process planted wood, calculate how much carbon is captured in finished wood products, and evaluate the use of wood as a substitute material in construction and waste management.