The Metafrax Group systematizes the work on the implementation of the ESG principles
The Board of Directors of PJSC Metafrax Chemicals decided to establish a working group on the implementation of the ESG principle in the activities of the group of companies.
The collegiate body included the top managers of Metafrax Chemicals, Metadynea, Engineering and Technology Center of Metafrax and trading companies of the group, representatives of legal and financial departments, production, corporate management communications, HR, GR and environmental protection. Mr. Simon Vikhnin, Legal Director of PJSC Metafrax Chemicals, has been appointed as a Head of the working group.
- The Metafrax Group of Companies has gathered significant experience in implementing of ESG principles when solving issues in the areas of ecology, industrial safety, occupational safety, social policy, and corporate governance. As part of the activities of the working group we plan to systematize and synchronize these processes, based on the most successful cases and expert recommendations, with the subsequent scaling of the project to the entire Group of Companies, - said Mr. Simon Vikhnin.
"Metadynea" LLC, a part of "Metafrax Group", has signed a license agreement and a contract for the basic engineering of a production complex of low-tonnage chemical products with Air Liquide Engineering and Construction. The "Metadynea" project presumes the fabrication of a product entirely from biodegradable raw materials and renewable sources of plant origin. The BIO-MPG synthesis process used in the project will reduce greenhouse gas emissions by more than 60% compared to the classical propylene oxide production process. A major strategic effort for the search and selection of projects for the further development of "Metadynea" LLC is carried out taking into account the priority of environmental issues is set at the level of the company's mission.
The UN formulates the ideological basis of the ESG principles. Their implementation provides for the practical realization of the advanced practices in such areas as Environmental, Social and Governance.