ENERGY EFFICIENCY STRATEGY IN RUSSIA: LOW CARBON CHALLENGES AND CORPORATE RESPONSES

In this article the main directions of the Russian government policy to improve the energy efficiency of the economy are discussed. Key trends of the energy efficiency policy in Russia and the energy saving activities of the leading Russian iron & steel companies are addressed. Two case studies of the energy saving and energy efficiency policies of the largest metallurgical companies in Russia (Magnitogorsk Iron & Steel Works, MMK, and Novo-Lipetsk Iron & Steel Works, NLMK) are considered. These Russian companies successfully use the whole range of internationally approved energy saving instruments tailored to the domestic context, drastically upgraded the energy efficiency of operations and their experiences worth disseminating across the iron and steel industry.