Green and Sustainable Finance

The Board has proposed to dispose on the Polymetal’s Russian business as this presents the most viable opportunity for the Group to restore shareholder value by removing or substantially mitigating critical political, legal, financial and operational risks to the Polymetal Retained Group.

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Polymetal uses sustainability-linked financial instruments such as green loans and ESG-linked loans to ensure responsible financing, aligning capital with the company’s strategy and strong ESG performance. Polymetal’s lenders and investors can participate in our sustainability journey. By the end of 2022, Polymetal’s portfolio of sustainability linked and green financing amounts to $600 million and comprises approximately 25% of total debt.

«Sustainability is the cornerstone of Polymetal’s business model. Green financing will reinforce our determination to accelerate transition to a low-carbon economy and safer environment», said Vitaly Nesis, Group CEO of Polymetal.

We regard sustainability as an essential element of our activities. As an investment in our society as well as the future, we firmly believe that anchoring sustainability as part of our business strategy will lead to economic, environmental and social progress. At Polymetal we strive for a ‘zero harm’ culture both socially and environmentally; we try to minimise our impact on the environment and biodiversity whilst encouraging a culture where every employee takes personal responsibility for harm reduction.

Polymetal has developed a comprehensive financing programme to meet these aims, including a wide range of debt instruments to secure funding for our sustainability projects. These include the development of solar and wind power plants, investment in grid connections to remote assets and procurement of electricity supplies with the lowest available carbon footprint. We also invest in water treatment facilities and the restoration of local biodiversity that may have been disturbed by our activities. 25% of Polymetal’s debt is sustainability linked, providing a clear and objective data framework for stakeholders to monitor project progress.

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