The Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has announced the successful passing of an independent examination of its project "The implementation of the electro-smelting steelmaking process at MMK" for compliance with the international environmental agreement Kyoto Protocol. The audit was conducted by the independent certification body Bureau Veritas Certification Holding SAS.
Accordingly, in 2008-2009, the total reduction of greenhouse gas emissions as a result of the project's implementation reached 7.4 million mt. MMK is one of the first Russian steelmakers to achieve such significant results in implementation of the Kyoto Protocol's mechanisms.
Based on the positive conclusion of the auditing, MMK is ready to apply for participation in a tender organized by the Russian government for carbon emissions register.
The use of the Kyoto Protocol's mechanisms, such as CO2 emissions trading, opens opportunities for Russian companies to attract additional investments