The agreement reached with shareholders is being successfully implemented. The year reported here was one of cooperation and a search for mutually acceptable solutions that allowed the Company not only to function effectively, but also to survive the difficulties created by the instability reigning in the world markets.
This autumn we presented our stakeholders—shareholders, investors, the entire investment community, government bodies, residents of the Krasnoyarsk Territory, and our employees—with our new strategy.
It is aimed at reducing expenditures, gradually withdrawing from non-core assets, and optimising inefficient production plants, as well as concentrating efforts on the most profitable “first-class” assets. These include projects designed for at least 20 years and with proceeds exceeding USD 1 billion. We are setting our sights on an average annual investment volume over the next five years of USD 2 billion. By 2015, in line with our strategy, all of the Company’s production assets should meet first-class criteria. They should ensure not only economic efficiency and fair wages, but also make it possible to improve employee working conditions, neutralise any negative impact on the environment, and form a solid foundation for implementing the Company’s social responsibility mission
The Corporate Social Responsibility Report for 2013 sheds light on many events and achievements, demonstrating that our plans are already being implemented and that the Company is pursuing a comprehensive approach focusing on the economic, environmental, and social aspects of sustainable development. The main enterprises comprising the nucleus of the Company’s first-class assets have completed, continued, and begun new projects for modernising production and raising environmental safety.
The total expenditures and investments in environmental protection for the Group as a whole in 2013 topped 18 billion roubles.
Last year, the Company carried out an audit of both its investment and social projects. Every year, Norilsk Nickel spends enormous amounts of money on social programmes and projects. The Company’s goal is to increase the effiency of all the initiatives being implemented. Involving local communities in resolving territorial problems, forming new approaches to charitable activities, and supporting interesting and promising ideas are steps aimed at bettering conditions in those communities in which the Company’s enterprises operate.
Norilsk Nickel plans to continue its dialogue with a wide range of stakeholders, discussing its plans and the results obtained, and keeping in mind all the proposals relating to social responsibility that are of mutual interest.