Severstal : Head of Environment to lead Severstal’s Climate Strategy

June 5, 2020

PAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world's largest vertically integrated steel and mining companies, announces the appointment of Olga Kalashnikova as its new Head of Environment to lead the Company's strategy to reduce its carbon footprint and meet the climate challenge. The creation of this new role underlines Severstal's commitment to achieving a leading sustainability performance among global steel producers.

Olga Kalashnikova, who was previously responsible for Upstream environmental performance at Shell Russia, is now primarily focused on the development of a clear strategy and roadmap to decrease Severstal's carbon emissions. She is also working closely with departments across the business to ensure the Company's environmental initiatives are aligned to Severstal's stated ESG targets with a particular focus on the reduction of air emissions and wastewater.

Ms Kalashnikova has more than 20 years' experience working with blue chip international companies to improve their environmental performance. During more than 10 years at Royal Dutch Shell she was responsible for ensuring best environmental practices were maintained at the group's joint ventures in Russia, as well as for developing and running strategies to address local environmental issues, including those related to biodiversity, environmentally sensitive areas, managing greenhouse gas emissions and energy efficiency.

With Ms Kalashnikova's appointment, Severstal has further strengthened its ESG governance structure. Sustainable development is core to the business strategy of Severstal and the three important areas of environment, social and governance are overseen at Board level, with the environmental department reporting directly into the CEO.

Alexander Shevelev, CEO of Severstal, said:

'Severstal's ambition is to help lead the steel industry to a more sustainable future. As we intensify our efforts to reduce Severstal's own environmental impact, it is vital we have an experienced senior team driving sustainability improvements across the entire business. I am delighted that Olga will be guiding Severstal through its programme to reduce its GHG emissions, drawing on her extensive experience from other sectors. We are wholly committed to reducing our own environmental impact and recognise it is critical for the steel industry as a whole to reduce emissions and contribute towards the global efforts to achieve the goal of the Paris Agreement.