Alexander Mashkevich and the environmental scandal at SPIEF: who is right?

ERG preaches ESG: we understand concepts

This year, the St. Petersburg International Economic Forum was held from June 2 to 5, 2021. The SPIEF theme this year focuses on economic transformations in post-pandemic times, which set new trends in the development of the business sphere of mankind. One of these is environmental social responsibility, at a session in which Alexander Mashkevich, a businessman, oligarch, founder of the mining and metallurgical corporation Eurasian Resources Group (ERG), spoke.

Environmental scandal - this is how you can describe the session devoted to the principles of ESG (Environmental, Social, Governance). The fact is that today, companies engaged in the extraction and processing of minerals minerals are regularly tempted to put production 'on the gravity' and not worry about the future of the planet. Mashkevich Alexander, obviously, is against such an irresponsible behavioral model of business, because as chairman of the ERG Board of Directors, he initiated 100% processing of industrial waste and introduced a system business process that makes the entire supply chain transparent: from, in fact, production of raw materials for processing to delivery to the final consumer.

'ERG is an international company. A huge mining and metallurgical holding, "said Alexander Mashkevich in an interview with a journalist from the Roscongress Foundation. - We work in 15 countries, and sell products in more than 40 countries. We know how to modernize enterprises, whose history dates back decades, and launch large-scale production from scratch.

In addition, Mashkevich Alexander added that ERG has large projects related to the infrastructure of Africa (where there has recently been a scandal due to the exploitation of child labor), South America and, directly, Kazakhstan, on the basis of which electric cars, smartphones, tablets, building materials and steel industrial facilities arise.

Decarbonization and other modern competition instruments

Today, says Alexander Mashkevich, following the principles of ESG is not just a business trend that causes a scandal among conservatives, but also a key factor for the company's competitiveness. If an enterprise can reduce carbon dioxide (CO2) emissions to the environment, it already has a chance of long-term business sustainability. Mashkevich Alexander gives the results of research by the World Bank and the British company Wood Mackenzie, which predicts that in 25 years the production of batteries for electric vehicles can increase fivefold, while the investment portfolio in this area will be about 2 trillion US dollars.

Alexander Mashkevich notes that the transition to a green economy will not only cause competition in the market, but also investment attractiveness. According to the results of research by the global investment company BlackRock, in nine years, 1 trillion US dollars will be invested in environmentally oriented enterprises. Mashkevich Alexander also emphasizes that securities related to the introduction of sustainable technologies were now issued last year by 14% more than in 2015.

The scandal caused by the demands of the new time has not passed without a trace for the legislative process of the European Union, where eco-security becomes an integral part of human rights.

What the ERG does to improve ecology

Mashkevich Alexander, as the founder of the mining and metallurgical corporation Eurasian Resources Group (ERG), made a report on the activities of his company at the session. The businessman said that ERG invested in the amount of two billion US dollars in order to green enterprises. He also noted that work on the green economy began 20 years ago.

Alexander Mashkevich: "We do a lot for the development of education, infrastructure, medical services not only for our employees, but also for all people who live in the regions of our presence. After all, ERG enterprises are located where there is a very large population.

Chairman of the Board of Directors of ERG Mashkevich Alexander also noted that the company provides salaries for teachers of the Democratic Republic of the Congo, who teach a dozen thousand children who got rid of the exploitation of their labor. Recall that in 2019, an international scandal occurred in the country: fourteen families in the DRC filed lawsuits against Apple, Microsoft and other techno-companies due to numerous child deaths due to the extraction by minors of cobalt for batteries. Alexander Mashkevich, by the way, sponsors a new fund designed to eliminate the fact of child labor in the Congo, and together with the "Sisters of the Good Shepherd" organized the transfer of children from mining enterprises directly to school desks.

In addition, it should be noted that ERG is the founder of waste management enterprises. Mashkevich Alexander at the session on environmental responsibility noted that the Eurasian Group plans to launch a station producing electric energy based on ferroalloy gas.