MMK Sustainability Profile
MMK, or Magnitogorsk Iron and Steel Works, is a leading player in the global steel industry, headquartered in Magnitogorsk, Russia. Founded in 1932, MMK has established itself as one of the largest steel producers in the world, with significant operations across Europe and Asia. The company is renowned for its high-quality flat and long steel products, which cater to various sectors, including construction, automotive, and machinery. With a commitment to innovation and sustainability, MMK has achieved numerous milestones, including advancements in production technology and environmental initiatives. The company’s strategic focus on quality and efficiency has solidified its market position, making it a preferred supplier for many international clients. MMK continues to lead the way in the steel industry, driven by its dedication to excellence and customer satisfaction.
DitchCarbon Score
How does MMK's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Business Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
MMK's score of 38 is higher than 62% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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MMK's reported carbon emissions
In 2023, MMK (Public Joint Stock Company Magnitogorsk Iron & Steel Works) reported total carbon emissions of approximately 45,950,000,000 kg CO2e. This figure includes Scope 1 emissions of about 42,460,000 kg CO2e, Scope 2 emissions of approximately 1,640,000,000 kg CO2e, and significant Scope 3 emissions amounting to around 25,060,000,000 kg CO2e. The combined Scope 1 and 2 emissions totalled about 29,540,000,000 kg CO2e. In 2022, MMK's total emissions were slightly lower at approximately 43,980,000,000 kg CO2e, with Scope 1 emissions at about 24,360,000,000 kg CO2e, Scope 2 emissions around 1,230,000,000 kg CO2e, and Scope 3 emissions of approximately 23,150,000,000 kg CO2e. The previous year, 2021, saw total emissions of about 48,440,000,000 kg CO2e, with Scope 1 at approximately 26,070,000,000 kg CO2e and Scope 2 at around 1,320,000,000 kg CO2e. Despite the substantial emissions figures, MMK has not disclosed specific reduction targets or initiatives as part of its climate commitments. The company does not appear to have cascaded any emissions data from a parent organization, nor does it participate in initiatives such as the Science Based Targets initiative (SBTi) or the Carbon Disclosure Project (CDP) for emissions reduction targets. MMK's production emissions factor is reported at approximately 2,000 kg CO2e per tonne of steel, indicating the carbon intensity of its operations. The company continues to operate within the steel industry, which is known for its significant carbon footprint, highlighting the importance of effective climate strategies in reducing overall emissions.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 26,070,000,000 | 00,000,000,000 | 00,000,000 |
| Scope 2 | 1,320,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 3 | 24,530,000,000 | 00,000,000,000 | 00,000,000,000 |
How Carbon Intensive is MMK's Industry?
How Carbon Intensive is MMK's Location?
MMK's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
MMK has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
