This article examines the current state and drivers of environmental transparency in the Russian Mining and Metals sector. The study is based upon 2016–19 successive annual rankings calculated transparently, using publicly available information and a third-party-verified ranking system. Ranking results reveal a definite increase in the transparency level of one of the most closed industries in Russia. The findings from the study show that a company's presence in the stock markets has a positive impact on its openness in environmental matters. However, a company’s listing on an international stock exchange does not guarantee high environmental transparency. Some evidence of a correlation between ranking positions and participation of diversified financial-industrial groups in the share capital was also found. Overall, our analyses suggest that ESG (environmental, social and governance) management in the Russian mining and metals sector is only in the process of development. To overcome this, the environmental transparency ranking of mining and metals companies in Russia creates a new mechanism for raising public awareness and dialogue between the public and one of the most closed industries. The ranking initiated calculation of industry‐average quantitative impact indicators that, as the sample grows, will transform into an important benchmark for corporate self‐assessment when comparing Russian practices with those of the largest international and foreign mining and metal companies across the globe.

本文研究了俄罗斯采矿和金属行业环境透明度的现状和驱动因素。该研究基于透明计算的 2016-19 年连续年度排名，使用公开信息和第三方验证的排名系统。排名结果显示，俄罗斯最封闭的行业之一的透明度水平明显提高。研究结果表明，一家公司在股票市场上的存在对其在环境问题上的开放度有积极的影响。然而，一家公司在国际证券交易所上市并不能保证高度的环境透明度。还发现了排名位置与多元化金融行业集团在股本中的参与度之间存在相关性的一些证据。全面的，我们的分析表明，俄罗斯采矿和金属行业的 ESG（环境、社会和治理）管理仅处于发展过程中。为了克服这个问题，俄罗斯采矿和金属公司的环境透明度排名创造了一种新机制，以提高公众意识和公众与最封闭行业之一之间的对话。该排名启动了行业平均量化影响指标的计算，随着样本的增长，在将俄罗斯的做法与全球最大的国际和外国矿业和金属公司的做法进行比较时，这些指标将转变为企业自我评估的重要基准。俄罗斯采矿和金属公司的环境透明度排名为提高公众意识和公众与最封闭的行业之一之间的对话创造了一种新机制。该排名启动了行业平均量化影响指标的计算，随着样本的增长，在将俄罗斯的做法与全球最大的国际和外国矿业和金属公司的做法进行比较时，这些指标将转变为企业自我评估的重要基准。俄罗斯采矿和金属公司的环境透明度排名为提高公众意识和公众与最封闭的行业之一之间的对话创造了一种新机制。该排名启动了行业平均量化影响指标的计算，随着样本的增长，在将俄罗斯的做法与全球最大的国际和外国矿业和金属公司的做法进行比较时，这些指标将转变为企业自我评估的重要基准。