LUKOIL Releases 2020 Sustainability ReportSource: RNS
LUKOIL RELEASES 2020 SUSTAINABILITY REPORT
PJSC LUKOIL released its Sustainability Report for 2020 prepared in line with the international and industry standards, such as GRI, SASB, UNCTAD and IPIECA. For each area of ESG activities the report includes information about the Company's contribution into the achievement of the UN Sustainable Development Goals.
In accordance with the standards, material topics of the Report were selected on the basis of stakeholders' requests. The document covers activities of the Company in the area of the climate agenda, environmental protection and external social policy. It also reflects measures to protect employees and local communities in the regions of the Company's operations from the COVID-19 pandemic. On the occasion of the 30th anniversary of LUKOIL the report shows how the sustainability management system has evolved in the Company over the past 30 years.
The report also covers sustainability activities of the Company in most sensitive regions such as the Arctic and the Republic of Komi.
This year the report provides information about new aspects such as tax policy, anti-corruption policy and application of the sustainable development principles in foreign upstream projects.
In addition, the report contains extended data on greenhouse gas emissions, consumption of gas, water and electrical power, land remediation and waste management.
The document was subject to an independent review by KPMG and received an endorsement of the Non-Financial Reporting Council of the Russian Union of Industrialists and Entrepreneurs (RSPP). The report will be published on LUKOIL's website in Russian and English languages.
LUKOIL is one of the leaders in non-financial reporting in Russia and has been publishing documents on its sustainability activities since 2005. The previous sustainability report for 2019 has won awards of the Russian Ministry of Energy, Moscow Stock Exchange and a number of international competitions, including ARC Awards, the world's largest international contest for annual reports. The Company maintains a leading position in the top 10 in the Moscow Stock Exchange and RSPP sustainability indices.