ZCMC Unveils Its 2024 Sustainability Report, Marking Four Consecutive Years of Transparent ESG Reporting in Armenia

ZCMC Unveils Its 2024 Sustainability Report, Marking Four Consecutive Years of Transparent ESG Reporting in Armenia․

The Zangezur Copper Molybdenum Combine (ZCMC) proudly presented its 2024 Sustainability Report during the annual Mining Armenia Forum, that was taking place in Armenia on October 3-4, reaffirming its commitment to transparency, accountability, and sustainable development. This marks the fourth consecutive year ZCMC has published a comprehensive sustainability report, making it the only company in Armenia to maintain such long-term consistency in ESG reporting.

This year’s report is aligned with leading international sustainability frameworks, including the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), and Task Force on Climate-related Financial Disclosures (TCFD). In a forward-looking move, ZCMC has also referenced the Taskforce on Nature-related Financial Disclosures (TNFD) and committed to fully integrating TNFD into its reporting beginning next year.

The official launch was highlighted by an expert panel discussion on sustainability reporting, featuring representatives from KPMG, Grant Thornton Armenia, World Bank Armenia, and ZCMC. The forum provided a valuable platform to discuss the evolving landscape of ESG standards and the importance of reliable, transparent data in responsible mining.

To ensure credibility and enhance stakeholder trust, the 2024 report will undergo independent third-party assurance. The assurance will be carried our by Grant Thornton. 

“For us, sustainability is not a means to an end; it is a business model, one that drives greater efficiency, promotes management excellence, transparency, and accountability. Being the top taxpayer is a responsibility that extends beyond economic contribution; it also obliges us to operate in a socially responsible and environmentally conscious manner every single day”, the Foreword of the General Director of the ZCMC Roman Khudoliy reads. 

The Director of Sustainability Development Armen Stepanyan said in his foreword: “As the Sustainable Development Director at ZCMC, I am proud to present our fourth consecutive Sustainability Report, covering the reporting year of 2024. This report reflects both our achievements and shortcomings on the path toward meeting our ambitious sustainability targets. Like any year on this challenging journey, 2024 brought moments of pride as well as disappointment.  This report offers additional highlights that, I believe, make it a detailed, comprehensive, and honest account of our sustainability journey”.

The full report is available here. https://www.zcmc.am/en/esg/reports/ 

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