LONDON - Ferrexpo PLC (LSE: LON:FXPO), known for its production and export of premium iron ore pellets, has published its ninth Responsible Business Report. The report details the company's efforts in responsible business practices, highlighting its commitment to sustainability even amidst the ongoing conflict in Ukraine.
The report showcases a 46% improvement in the Lost Time Injury Frequency Rate (LTIFR), dropping to 0.32 in 2023 from 0.51 the previous year. It also notes over 100 humanitarian projects funded, with a total contribution of US$25 million through the Ferrexpo Humanitarian Fund and corporate social responsibility spending. In management roles, the representation of women increased by 6.5% to 22.3% in 2023.
Ferrexpo's economic contributions include US$514 million paid to supplier stakeholders in 2023, and the company's inclusion in the FTSE4Good index, which measures the performance of companies demonstrating strong environmental, social, and governance practices.
The report emphasizes the company's response to the war in Ukraine, focusing on the safety and well-being of its workforce. This includes the Ferrexpo Veteran Support Programme, which assists demobilised employees and their families with reintegration and support services.
Environmental initiatives remain a priority for Ferrexpo, with a continued commitment to decarbonisation and reducing Scope 1 and Scope 2 emissions. The company has also released its second Climate Change Report and is engaging in research and stakeholder meetings to explore large-scale decarbonisation projects, such as the electrification of its mining fleet.
Natalie Polischuk, Chair of the HSEC Board committee, stated that responsible business is at the core of Ferrexpo's operations, especially in contributing to the rebuilding of Ukraine and providing employment for future generations.
The Responsible Business Report is accessible on Ferrexpo's website, offering an in-depth view of the company's activities and commitments in these challenging times. This article is based on a press release statement from Ferrexpo PLC.
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