The Astana Times – The S&P Global Ratings international rating agency assigned the Kazatomprom national atomic company, the world’s largest uranium producer, an above average environmental, social, and governance (ESG) evaluation score of 51/100, reported the company’s press service on Dec. 30.
The current global maximum ESG evaluation score among metal and mining sector companies is 68 (of 100), with a worldwide metal and mining sector average of 50 (of 100).
The company’s current ESG evaluation score of 51 reflects the mining industry’s significant exposure to inherent environmental and social risks, partly offset by its effective ESG management practices, primarily related to the highly regulated nature of its businesses at the local and international levels.
“According to the rating agency, Kazatomprom is better positioned than its wider mining sector peers. This is largely thanks to the company’s exclusive use of the in-situ recovery mining method, one of the least disruptive methods available. The evaluation also reflects Kazatomprom’s commitment and contribution to global decarbonization efforts in its downstream value chain since it is the leading producer of the uranium used to fuel and generate low-carbon electricity from nuclear reactors,” said Neil Longfellow, chairman of Kazatomprom’s board of directors.
The S&P Global Ratings ESG evaluation methodology is based on assessing the global relative positioning of each industry sector to environmental and social risk exposure and regional analysis of natural disaster risk and social and governance standards.