Alrosa gets an A+ in social, environmental investments
A study conducted by PwC placed Alrosa (MCX:ALRS) as the industry leader in social and environmental investments.
The study, which is based on the official reports of companies that mine precious metals and rough diamonds, covers the period from 2016 to 2018 and focuses on topics like investments in social programs and environmental protection measures, energy and water consumption, greenhouse gas emissions, and the number of female employees.
The positive rating that Alrosa received is based on the fact that the company allocates 3% of its revenue to social expenses, a figure that added up to $168 million in 2018. According to the miner, the money was destined for regional development programs, corporate social programs for employees and their families, and about 500 social and charitable projects.
The world’s top diamond producer by output also got an A+ given that it invested $76 million, or 2.2% of its consolidated revenue, in treatment facilities, land reclamation, financing of environmental studies, monitoring, installing and maintaining infrastructure that allows it to recycle 90% of the water used in its operations, and divesting from fossil fuels, decreasing its consumption of coal by 80%, diesel by almost 90%, and crude oil by half.
Finally, according to PwC, Alrosa employs a very high percentage of women when compared to others in the industry, as females make up 34% of its workforce.