Zangezur Copper Molybdenum Combine (ZCMC) has joined the United Nations Global Compact (UNGC), the world’s largest corporate sustainability initiative, marking a new step in the company’s efforts to strengthen its environmental, social and governance (ESG) performance.
By becoming a participant in the UN Global Compact, ZCMC has committed to aligning its operations and business practices with the initiative’s Ten Principles in the areas of human rights, labor, environmental protection and anti-corruption. The company also pledged to contribute to the achievement of the United Nations Sustainable Development Goals (SDGs).
According to the company, the move reflects its commitment to adopting internationally recognized sustainability standards and best practices while enhancing corporate governance and accountability.
“Joining the United Nations Global Compact reflects our commitment to continuously improving the way we operate and to aligning our business with globally recognized principles of responsible corporate conduct,” said Roman Khudoliy, General Director of Zangezur Copper Molybdenum Combine.
“As Armenia’s leading mining company, we recognize our responsibility to create value not only through production, but also through strong governance, environmental stewardship, safe workplaces, and constructive engagement with our stakeholders,” he added.
As part of its participation in the initiative, ZCMC will publish an annual Communication on Progress (CoP), reporting on its implementation of the UNGC’s Ten Principles and enabling stakeholders to assess the company’s performance against peers in the global mining and metals industry.
The company also announced that it recently completed an assessment by one of the world’s leading ESG rating agencies for the 2024 reporting year. According to ZCMC, its ESG score improved by 20 points over the past two years, surpassing the global industry average for the metals and mining sector.
While the rating results have not been made public, the company said it plans to seek a public ESG rating for the 2025 reporting year, with publication expected in 2026.
ZCMC said joining the UN Global Compact represents another milestone in its sustainability strategy and broader efforts to strengthen governance practices, improve transparency and create long-term value for stakeholders.
