In 2019, MMK Group’s financial contributions to charitable causes and social programs increased by almost 4% YoY, reaching 2.5 billion rubles.
At the same time, the share of the plant itself in the group’s total volume of social and charitable expenses amounted to around 70%, totaling almost 1.8 billion rubles, 11.6% higher than in 2018.
In 2019, MMK Group allocated funds for the protection of employees’ health, the implementation of medical programs and the prevention of diseases (520 million rubles, 255 million rubles of which were the plant’s contribution), compensation for the cost of employee vouchers for resort or sanatorium treatments (400 million rubles, of which more than half was contributed by the plant itself) and the organization of children’s holidays (53 million rubles), the development of healthy lifestyle principles and the promotion of sports and physical education (130 million rubles), social support for pensioners, people with disabilities and other citizens in need of assistance (419 million rubles, of which 314 million rubles were the plant’s funds), support for mothers and large families, as well as funds to stimulate birth rates (100 million rubles), the organization of cultural activities and the maintenance of cultural centers (113 million rubles), the provision of hot meals for the plant’s employees (68.5 million rubles), housing, youth and educational programs and other voluntary social commitments (172.5 million rubles). In total, MMK Group’s investments in charity and social programs in 2019 amounted to 2,581.7 million rubles.
Magnitogorsk Iron and Steel Works (MMK) has long held the status of a socially orientated company. By funding social programs, MMK creates a solid foundation for further development of Magnitogorsk and the entire Ural region. At the end of last year, MMK’s investments in human capital development, social partnerships and sustainable development of the city and region received high recognition from several expert communities. For example, in December 2019, MMK took the 4th place in the rating of the largest Russian employers for investments in human capital (based on 2018 indicators compiled by RAEX Rating Review). Also at the end of last year, the Russian Union of Industrialists and Entrepreneurs published annual indices reflecting the achievements of major Russian companies in the field of corporate responsibility management, sustainable development and social entrepreneurship, and MMK entered the group of leaders for the indices “Responsibility and Openness” and “Vectors of Sustainable Development”.
MMK has succeeded in creating a unique system for social partnerships that functions effectively in market relations. The plant and MMK Group organizations voluntarily assume obligations for socially responsible behavior towards the residents of Magnitogorsk and the Chelyabinsk region, actively take part in the development of the city and surrounding area’s infrastructure, cultural and sporting facilities, support public associations and organize large-scale cultural and sporting events in the city. (MMK/Ukrainian metal)
