Ferrexpo plc (LSE: FXPO), the world's third largest exporter of high grade iron ore pellets to the global steel industry, with operations in central Ukraine, is pleased to announce that it has completed an external assurance process on the Group’s reporting of key safety metrics and Scope 1 and Scope 2 greenhouse gas emissions for its performance in 2021.
The limited assurance process was carried out by the Group’s independent auditor, MHA MacIntyre Hudson (“MHA”), and was completed in line with the requirements of the International Standard on Assurance Engagements ISAE (UK) 3000 (Revised) Assurance Engagements (“ISAE 3000”), as issued by the International Auditing and Assurance Standards Board.
In undertaking its first external assurance process, the Group selected its reporting of safety and greenhouse gas emissions as key elements of its reporting. In safety, the Group’s reporting of its lost time injury frequency rate and total recordable injury rate were selected for assurance as these are the main indicators of safety as presented in Ferrexpo’s public reports and enable benchmarking of performance against peers. The Group also recognises the importance of clear and accurate reporting of its greenhouse gas emissions footprint, and assurance of its Scope 1 (direct) and Scope 2 (indirect) emissions was therefore also obtained as part of the same process. Ferrexpo will look to continue this process of obtaining external assurance of sustainability data going forward, and will look to expand the number of sustainability topics covered over time.
The assurance process announced today has reviewed the relevant figures as presented by the Group in its Annual Report and Accounts for 2021, which is available on the Group’s website (www.ferrexpo.com).
Details of the assurance process completed, including the Assurance Report issued by MHA and Reporting Criteria for the information covered by this process, have been published on the Group’s website alongside the Annual Report and Accounts for 2021.
Ann-Christin Andersen, Chair of Ferrexpo’s Health, Safety, Environment and Community (“HSEC”) Committee commented:
“Today’s news marks an important step in Ferrexpo’s reporting of sustainability information, with stakeholders increasingly relying on sustainability information to make informed decisions regarding companies to partner with, and invest in. Through completing an external assurance process on key safety and emissions data, we hope to build confidence in our existing reporting and future plans for further incorporating sustainability topics into our strategy for the years ahead. It is a credit to our teams in Ukraine and central Europe that this process has been completed in 2022, with minimal delay, due to Russia’s ongoing invasion of Ukraine. I would like to thank all those involved for helping us to deliver this result.”
Link to full PDF version of this release: click here.
For further information, please contact:
+44 207 389 8305
Jos Simson / Emily Moss / Gareth Tredway
+44 207 920 3150 / +44 7785 974 264
Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a premium listing on the London Stock Exchange in the FTSE 250 index (ticker FXPO). The Group produces high grade iron ore pellets, which are a premium product for the global steel industry and enable reduced carbon emissions and increased productivity for steelmakers when the Group’s iron ore pellets are converted into steel, compared to more commonly traded forms of iron ore. Ferrexpo’s operations have been supplying the global steel industry for over 50 years and in 2021 the Group produced 11.2 million tonnes of iron ore pellets, placing Ferrexpo as the world’s third largest exporter of pellets to the global steel industry with a market share of approximately 9%. The Group has a global customer base comprising of premium steel mills around the world, which includes steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. For further information, please visit www.ferrexpo.com.