RHI Magnesita, the leading global supplier of refractory products, systems, and solutions, was honored to receive a B for addressing climate risk and tackling carbon emissions in the newly released Carbon Disclosure Project (CDP) ratings. This global environmental disclosure system is widely recognized as the gold standard of corporate environmental transparency. CDP scoring ranges from D- to A. RHI Magnesita’s Management Level rating is the highest in the global refractory industry. Building on a C rating (Awareness Level) in 2019, the company has improved rapidly.
“We are honored by this recognition,” said Stefan Borgas, Chief Executive Officer. “As a technology leader, we are committed to driving the transformation of our business in all areas. Tackling carbon emissions and climate risk as well as identifying low-carbon opportunities are of utmost importance to us.”
Examples of RHI Magnesita’s commitment to addressing carbon emissions include:
- ANKRAL LC: Ankral LC is the company’s low-carbon series of refractory bricks with a 13% reduced carbon footprint that is independently verified.
- Reduction of emissions: RHI Magnesita’s commitment to reduce emissions by 15% by 2025 is the first target of its kind in the whole refractory industry.
- Recycling program: RHI Magnesita’s recycling program will include 10% secondary raw materials in refractories by 2025, which not only reduces carbon emissions but also enables the company to build a circular economy.
- Customer support: Supporting customers is central to RHI Magnesita. Therefore, working on tailor-made solutions to reduce the carbon emissions of its customers is of great importance to the company.
- Corporate Sustainability Committee: RHI Magnesita established a committee with the sole purpose to ensure and improve the company’s environmental performance. The Board oversees the work of this Committee.
About CDP
A record-breaking 9,600+ companies participated in the 2020 CDP climate questionnaire. This is 14% higher than last year and marks a 70% increase since the Paris Agreement was signed in 2015.
In 2020, the CDP platform saw requests for company disclosures from more than 500 investors with over US$106 trillion in assets and more than 150 major purchasers accounting for US$4 trillion in procurement spend.
Company scores are based on data reported to the CDP’s annual climate change questionnaire. A detailed and independent methodology assesses companies on the comprehensiveness of disclosure, awareness, and management of climate risks and environmental leadership, including setting ambitious and meaningful targets.
The full methodology and list of company scores can be found on the CDP website.
About RHI Magnesita
RHI Magnesita is the leading global supplier of high-grade refractory products, systems, and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals, and glass. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves customers around the world, with around 13,000 employees in 35 main production sites and more than 70 sales offices. RHI Magnesita intends to leverage its leadership in terms of revenue, scale, product portfolio and diversified geographic presence to target strategically those countries and regions benefitting from more dynamic economic growth prospects.
Its shares have a premium listing on the London Stock Exchange (symbol: RHIM) and are a constituent of the FTSE 250 index.
For more information please visit their website.
