SIBUR receives top ESG rating
MOSCOW, RUSSIA - Media OutReach Newswire – 23 August 2024 – The National Rating Agency (NRA) has awarded its highest ESG rating, AAA.esg, to SIBUR, Russia's largest producer of polymers and rubber, making it the first company in the country, including non-industrial companies, to earn this distinction.
The AAA.esg rating indicates that SIBUR has fully integrated sustainability into its operations and excels in terms of its compliance with environmental protection, social responsibility and corporate governance practices.
Key factors contributing to SIBUR's excellent environmental performance include its greenhouse gas emission reduction targets, the implementation of circular-economy projects, and its robust environmental and climate risk management system. Additional points were awarded for the company's efforts to develop sustainable supply chains.
SIBUR earned high marks for social responsibility, particularly for its comprehensive occupational health and safety system, progressive employee compensation policy and regulations on wages, bonuses and additional benefits. The company's approach to its employees emphasises equality and inclusivity, and it actively engages with local communities in the regions where it operates.
In terms of corporate governance, the NRA noted SIBUR's successful implementation of its Sustainable Development Strategy, the integration of sustainability issues into the work of the Board of Directors and the existence of a dedicated sustainability committee, as well as timely and adequate disclosure.
"We are proud to be the first in Russia to receive an AAA.esg rating, the highest possible. This ESG rating is the most thorough and most objective tool available for assessing companies, and compliance with the methodology approved by the Bank of Russia ensures that information is transparent and accessible to all stakeholders. We will strive to uphold this rating and continue to advance best practices when it comes to sustainability both in the industry and in the country as a whole," said Alexey Kozlov, SIBUR's Managing Director and a member of the company's Management Board.
The rating was prepared by the NRA based on open-source data for 2023 as well as information provided by the company.
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