Early it was reported, that Norilsk Nickel became one of the first companies in the industry and in the world to launch this mechanism.
The company notes the growing demand for products and is pleased with the launch of digital platforms.
Targeting institutional investors, the new ETC has a low investment cost, its total expense ratio stands at 0.75%. The minimum investment is $100,000 and daily valuations are available on Wiener Börse (the Vienna Stock Exchange). Prior to the issue on the exchange, the carbon-neutral metal was tokenized on Atomyze, a Blockchain platform.
Anton Berlin, Nornickel Vice President, Sales and Distribution commented: “Carbon neutral nickel ETC is another important development for Nornickel and testament to our commitment to the global climate change agenda. Today’s announcement furthers our ambition to be the leading producer of green metals, highlighting the attractiveness of our portfolio of low-carbon commodities which provide a transparent and fully-audited source of sustainable metals.”
The carbon credits embedded into the carbon neutral nickel ETC represent the carbon saving generated by Nornickel in 2019 — 2020. International auditor EY verified the volume of Nornickel’s emissions and Sphera GmbH, a leading European environmental and sustainability consultant, confirmed the methodology behind emission calculations.
Alexander Stoyanov, Chief Executive Officer of GPF said: “This is yet another tangible benchmark achieved and thanks to Nornickel’s commitment to emissions reduction we can bring the world’s first carbon-neutral nickel ETC to market. Investors can take advantage of low-cost access to nickel which plays a fundamental role in the transition to clean energy in the knowledge it has been mined and produced responsibly.”
Nornickel and Sphera have been working together since 2013 to record the Company’s CO2 emissions. The recorded data show Nornickel’s long-term commitment and strategy to cut greenhouse gas (CO2) emissions at all stages of the production chain, from underground ore mining to processing and refining.
The carbon savings were made possible thanks to upgrades to the hydro power plant which feeds Nornickel’s production facilities in the Norilsk Industrial District and the upgrade and repair of power equipment, rollout of the automated control and metering system, reduction of heat losses in buildings and pipelines, and decommissioning of obsolete power units.
The carbon-neutral nickel ETC is an addition to GPF’s portfolio of six physically-backed, low-cost metal ETCs, which include gold, silver, platinum, palladium, nickel and copper, and are now listed on Xetra. The ETCs are also available on LSE, Xtra, SIX and Borsa Italiana.
Earlier, Nornickel’s president, Vladimir Potanin, has pledged to explore technological innovations in financial sector, such as tokenization, to create added value, democratize access and benefit the society. Interros, Russia’s largest investment company founded by Mr. Potanin over 30 years ago, has joined the consortium of investors backing Atomyze – an international tokenization platform.
Norilsk Nickel is following the path of “creating a transparent and responsible digital metal market, forming end-to-end chains of more environmentally friendly products,” said Potanin.
“The economy is being digitalized, with financial flows moving from the traditional economy to the digital one. Nornickel invests in the development of various digital solutions for industrial applications, including solutions for the tokenisation of mutual payments. Nornickel is the first industrial leader to use tokens in sales. We find this project interesting because it will allow us to popularise our metals thanks to digital trading methods,” said Nornickel CEO Vladimir Potanin.
