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Nornickel unveils first carbon-neutral nickel ETC

Norilsk Nickel has brought the world’s only physically-backed, carbon-neutral nickel Exchange Traded Commodity to market.
Nornickel unveils first carbon-neutral nickel ETC Nornickel unveils first carbon-neutral nickel ETC Nornickel unveils first carbon-neutral nickel ETC Nornickel unveils first carbon-neutral nickel ETC Nornickel unveils first carbon-neutral nickel ETC

Nornickel has launched a new physically-backed, carbon-neutral nickel ETC

Staff reporter

"Carbon-neutral nickel ETC is another important development for Nornickel and testament to our commitment to the global climate change agenda," VP sales and distribution Anton Berlin said.

"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."

Nornickel has issued the ETC through its Global Palladium Fund (GPF), which has six other physically-backed metal ETCs including copper and nickel which were listed on Germany's XETRA stock exchange last week.

ETCs offer investors exposure to metals and the GPF uses blockchain technology to provide transparency and security in the custody chain of the metal.

The Russia-based company said yesterday its new ETC targeted institutional investors, had a low investment cost and a minimum investment of US$100,000 and was listed on the Vienna stock exchange.

Nornickel said the carbon credits embedded into the new ETC represented the carbon saving the company generated in 2019-2020, through measures including upgrades to the hydropower plant in the Norilsk industrial district and reducing heat loss in buildings and pipelines.

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, Nornickel said.

The company describes itself as the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper.