AK&M Rating Agency assigned Severstal an ESG Reporting Rating of Resg1, which corresponds to the highest level of disclosure of sustainability information in public reports of organizations. This is the first time Severstal has assigned an ESG reporting rating.
The agency rates the company's sustainability report as one of the best among other similar reports in Russia. It confirms Severstal's commitment to sustainable development principles. The report provides a complete set of data in dynamics, which indicate a decrease in the negative impact of the company's activities on the environment, a reduction in energy consumption and the use of natural resources. Much attention is paid to the issues of reducing greenhouse gas emissions - the company's policy is set out in detail, reporting data and long-term plans are provided.
Severstal discloses its environmental results in full. However, we would also recommend disclosing information on fines and payments for negative impact on the environment, ”comments Lyudmila Eremina, Deputy General Director of AK&M Rating Agency.
The company's 2020 sustainability report was the eleventh public assurance procedure by the Council of the Russian Union of Industrialists and Entrepreneurs on Non-Financial Reporting and prepared according to the international standards of the Global Reporting Initiative (GRI), taking into account the main topics of the Social Responsibility Guidelines (ISO 26000 standard). Additional indicators have been disclosed in accordance with the methodology of the Sustainable Development Reporting Standards Board (SASB). The report contains information on the results of the company's activities in the field of sustainable development and consideration of ESG factors, impact on the economy, society and the environment. The document reflects Severstal's contribution to achieving the Sustainable Development Goals in line with the 2030 Agenda for Sustainable Development. Information is provided on the measures taken by the company to counter the spread of coronavirus infection, support employees and communities in the regions of its presence. “We are honored to maintain our leadership in sustainable development and reporting in Russia. Constantly improving the quality of our reporting, we strengthen the company's business reputation, ensure the growth of trust and authority on the part of the state, investors, partners, civil society and other stakeholders, taking into account the UN's global sustainable development goals, ”says Natalya Poppel , Advisor to the General Director of Severstal for Sustainable Development.