Norilsk Nickel (Nornickel) has produced its first batch of certified carbon-neutral nickel. The company has been implementing a strategy focused on upgrading its energy assets since 2018. This includes replacement of hydro and thermal power station units feeding the Norilsk Industrial District, modernization and repair of energy equipment, installation of automated control and metering systems, reduction of heat loss in buildings and pipelines, equipment optimization, and decommissioning obsolete power units.
In 2020, the company announced a comprehensive environmental and climate change strategy aimed at reducing its environmental footprint, keeping total Scope 1 and 2 greenhouse gas (GHG) emissions under the GHG Protocol below 10 million metric tons per year (mt/y), and maintaining its position in the bottom quartile of the global nickel industry for specific carbon dioxide emissions per unit of nickel product, according to Wood Mackenzie estimates.
The measures to reduce greenhouse gas emissions have allowed the company to allocate thousands of tons of saved CO2 emissions to carbon-neutral nickel production. The first batch of carbon-neutral products totals 5,000 mt of nickel cathodes produced by the company’s Kola Division. The metal will be shipped from Murmansk Port and delivered to an LME-certified warehouse in Rotterdam.
The volume of carbon-neutral shipments will increase as emissions are reduced and carbon savings are verified by an auditor. Nornickel plans to release up to 10,000 mt of carbon-neutral nickel this year.
The carbon-neutral nickel will be tokenized on Atomyze, a Blockchain platform, and the tokens will be listed on the Vienna Stock Exchange by Nornickel’s EU-based Global Palladium Fund.
The company said it will also tokenize an auditor’s certificate with verified CO2 emission reductions, allowing this information to be securely stored, allocated to new product launches and attached to smart contracts with investors and industrial customers.
“We are pleased to announce that Nornickel has received the international auditor’s certificate confirming our commitment to support the global climate change agenda and proactively accelerate the reduction of our carbon footprint across the group,” said Anton Berlin, Nornickel vice president, sales and distribution. “This certificate allowed us to allocate saved carbon emissions to the first batch of carbon-neutral nickel. We will continue to reduce our emissions intensity and increase carbon-neutral metal supply to our customers, who continue to show strong demand for this product.”
