Nornickel released certified batch of carbon-neutral nickel

Nornickel released certified batch of carbon-neutral nickel

July 20, 2021

Five thousand tons of nickel cathodes will be delivered from Murmansk to Rotterdam.

#ARCTIC. #SIBERIA. THIS IS TAIMYR. Nornickel has released the first certified batch of carbon-neutral nickel in the company’s history and will start shipping it to consumers.

As explained in Nornickel, since 2018 the company has been implementing a strategy of modernization and renewal of energy assets. Projects include hydroelectric power plants and thermal power plants units replacement, power equipment modernization, an automated control and accounting system introduction, reduction of heat losses in buildings and pipelines, outdated power plants decommissioning.

In 2020, the company announced a comprehensive environmental and climate change strategy to reduce its environmental impact. In particular, to maintain its position in the bottom quartile of the global nickel industry in terms of specific emissions of carbon dioxide per unit of nickel production, according to WoodMackenzie’s assessment.

As a result of improved energy efficiency, the Nornickel Group reduced its carbon dioxide emissions by almost 47 thousand tons in 2019-2020.

The auditing company Ernst & Young (EY) confirms this. At the same time, with the help of one of the leading independent international consultants, Nornickel also calculated the carbon footprint of nickel produced in accordance with international standards ISO 14040 and 14044, it amounted to 8.1 tons of СО² per ton of finished products.

“The implementation of measures to reduce greenhouse gas emissions has made it possible to distribute the saved thousands of tons of carbon dioxide emissions to the production of carbon-neutral nickel. The volume of the first batch of carbon-neutral products amounted to 5 000 tons of nickel cathodes produced by the Kola division. The metal will be shipped from the Murmansk port and delivered to a warehouse certified by the London Metal Exchange in Rotterdam, the largest logistics hub in Europe”, the press service of Nornckel said.

Carbon neutral shipments will continue to grow as emissions are reduced and an auditor verifies carbon savings. By the end of the year, the company plans to produce up to ten thousand tons of carbon-neutral nickel.

It will be tokenized on the Atomyze blockchain platform, and the Nornickel Global Palladium Fund registered in Europe will display the tokens on the Vienna Stock Exchange.

Separately, the company tokenizes on the Atomyze platform an auditor’s certificate with a confirmed volume of CO² emission reductions, which will allow this information to be securely stored, distributed to new batches of manufactured products and attached to smart contracts with investors and industrial consumers.

“We are pleased to announce that Nornickel has secured the international auditor certificate confirming the company’s commitment to supporting the global climate agenda and, on its own initiative, accelerating the reduction of specific CO² emissions across the group. This conclusion allowed us to allocate the saved carbon emissions to the first batch of carbon neutral nickel. The company will continue to reduce its emission intensity, which means it will increase the supply of carbon-neutral metal to interested consumers”, commented Anton Berlin, vice president and head of sales and commerce at Nornickel.

Earlier we wrote that a recruitment center for Nornickel was opened in Norilsk.

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Text: Victor Tsaryov, Photo: Nornickel press office

July 20, 2021

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