Russian diamond mining company Alrosa has revealed that it spent $216 million (£155 million) on environmental and social projects throughout last year.
This figure equates to 8% of its consolidated revenue for 2020, it claimed.
On the social development side, the funds were spent on contributions to pension fund under non-state insurance programmes for employees, financing regional development projects and corporate social programmes for employees and their families, as well as supporting charitable and sponsorship projects.
A large proportion of the funds were spent on developing of social infrastructure, including healthcare and recreation, education, cultural and sports facilities.
These contributions are in addition to its mandatory contributions such as taxes.
Of the environmental projects it spent on, the majority of funds were invested in waste management and recycling projects, as well as projects aimed at reducing water intake from natural water supply systems, water recycling at concentrators, reducing direct greenhouse gas emissions, and energy efficiency and land rehabilitation projects.
Sergey Ivanov, CEO of Alrosa, said: “Alrosa is committed to sustainable development, which is reflected in the numerous annual social and environmental initiatives we undertake in the regions of our presence.
“The company retained its leadership position for ESG investments in the diamond industry in 2020, contributing around 8% of our total revenue.
“This is in addition to over RUB1 billion (£10 million) allocated to anti-Covid measures aimed to ensure the health and safety of our employees while also supporting hospitals and healthcare workers.
“Our environmental investments have enabled us to build on our existing strategic projects aimed at preserving the environment and developing unique ecosystems.”