Ferrexpo PLC Completion of External Assurance Process (5012T)
25 Juli 2022 - 8:00AM
UK Regulatory
TIDMFXPO
RNS Number : 5012T
Ferrexpo PLC
25 July 2022
25 July 2022
Ferrexpo plc
("Ferrexpo" or the "Company" or the "Group")
Completion of external assurance process for selected
sustainability reporting
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."
For further information, please contact:
Ferrexpo:
Rob Simmons r.simmons@ferrexpo.ch +44 207 389 8305
Tavistock:
Jos Simson
Emily Moss +44 207 920 3150
Gareth Tredway ferrexpo@tavistock.co.uk +44 7785 974 264
About Ferrexpo:
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
.
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