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TMK invites metal producers to cooperate in ESG, digitalization and R&D

TMK is inviting other metallurgical companies to cooperate on all relevant issues in the industry, including ESG integration, digitalization and R&D capabilities, said Igor Korytko, CEO of TMK, at the 18th International Steel Summit Russian Steel: Growth Strategy, held at TMK’s Volzhsky Pipe Plant.

During the summit’s plenary session, Igor Korytko highlighted the key factors driving growth of the steel industry: adherence to best practices in environmental, social and corporate governance (ESG) aspects, adoption of digital technologies, building R&D capabilities and product innovation.

He stressed that TMK is successfully delivering its global digitalization strategy, which helped the company rapidly adjust its business processes during the COVID-19 pandemic. TMK uses its R&D facility in the Skolkovo Innovation Center as a hub for integrating IT solutions to develop new products and technologies. At the same time, the company collaborates with other industry players on joint digital projects.

TMK is also adopting best environmental practices to reduce its carbon footprint, among other things. The company’s plants only use scrap-melting electric arc furnaces. Other integrated projects are also underway to reduce greenhouse gas emissions.

“Over the past five years, we have cut our carbon footprint by 5%, with a 3.4% reduction in 2020 alone. Now, TMK is putting together a strategy to reduce greenhouse gas emissions by 2030,” said Igor Korytko.

He also detailed TMK’s contribution to the hydrogen economy. “We believe the hydrogen economy is a window of opportunity for metal makers. First of all, for pipe manufacturers, because pipe solutions are used for hydrogen production, transportation and consumption. Perhaps, these are different solutions from those currently available on the market. But those companies that have the appropriate R&D capabilities in place can develop the right solutions. In particular, TMK has joined the Council of Industrial Partners at the Technological Hydrogen Valley consortium and is a leading contributor in this area,” said Igor Korytko.

According to TMK’s CEO, the company is open to sharing experience and joining efforts in developing these areas.

“TMK is open to engaging with any colleagues or stakeholders in all our initiatives. We do not see competition between our companies as an obstacle to such cooperation. We should openly collaborate in areas such as carbon footprint reduction, ESG, the hydrogen economy, digitalization and R&D. I am inviting everyone to work even more closely in these areas,” stressed Igor Korytko.

The Russian Steel Summit, set up by Eurasian Metals magazine in 2003 at the suggestion of the Russian Steel Association, is the leading discussion platform for Russia’s iron and steel industry. Every year, it brings together national industry leaders, their foreign partners, state agencies, enterprises and organizations actively cooperating with metal makers. Since 2019, the Summit has been hosted by steel-making regions.