Key Takeaways
- PhosAgro reigns supreme in RAEX’s ESG ranking, demonstrating excellence in environmental, social, and corporate governance standards.
- The rating compiled by RAEX, based on comprehensive analysis, includes around 160 companies, with PhosAgro leading the top 15.
- RAEX’s final ESG rating for PhosAgro, alongside NLMK Group and Polyus, is a commendable AA.
PhosAgro’s ESG Leadership
In a noteworthy development, PhosAgro, one of the world’s leading producers of mineral phosphorous fertilizers and high-grade apatite concentrate, has been declared the leader in corporate ESG (Environmental, Social, and Governance) practices among Russian companies by RAEX, an independent rating agency.
Compiled since 2018, the RAEX rating is based on a comprehensive analysis of the quality of corporate management of ESG risks and opportunities. It provides information on about 160 companies, with the leading Group A, comprising the top 15 companies.
PhosAgro has emerged not just as the overall business leader based on the final ESG assessment but also as the top performer in social policy impact and quality of corporate governance. PhosAgro, alongside NLMK Group and Polyus, has been accorded a final ESG rating of AA, signifying exemplary performance in sustainable practices.
A Well-Deserved Accolade
Dmitry Grishankov, the CEO of RAEX, congratulated PhosAgro on its impressive achievements, noting that the company scored more than 80 out of a possible 100 points based on sustainability findings. He lauded the company’s corporate governance, where PhosAgro scored the highest.
A Commitment to Sustainability
PhosAgro’s achievement in the ESG ranking echoes its commitment to sustainability principles and successful incorporation of ESG criteria into its long-term development strategy. The company’s CEO, Mikhail Rybnikov, thanked RAEX’s experts for their thorough evaluation of corporate practices. He underscored PhosAgro’s systematic adoption of the best available technologies, increased funding for social and charitable programs, comprehensive climate and resource conservation initiatives, high corporate governance standards, and emphasis on health, safety, and disclosure in the interests of all stakeholders.
About PhosAgro
PhosAgro is a world-leading producer of mineral phosphorous fertilizers and high-grade apatite concentrate. The company is Europe’s largest manufacturer of phosphate-based fertilizers and the world’s largest producer of phosphite grading 39% P2O5. PhosAgro is also one of the global leaders in producing ammonium and diammonium phosphate and the only producer in Russia of monocalcium phosphate feed and nepheline concentrate.
The company’s main products are used in approximately 100 countries across all inhabited continents. Besides Russia and the CIS, the priority markets for PhosAgro are Latin America, Europe, and Asia. Its shares are listed on the Moscow Exchange and Global Depositary Receipts (GDRs) are listed on the London Stock Exchange.
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