Metalloinvest Sustainable Development Report receives official verification from RSPP
19 August 2019
Metalloinvest’s Sustainable Development Report for 2018, entitled ‘Leadership in a time of change’, has successfully undergone the process of official verification by the Russian Union of Industrialists and Entrepreneurs (RSPP).
According to the RSPP Board on Non-Financial Reporting, the Report reflects the Company’s approach to sustainable development in line with the UN’s Sustainable Development Goals. The Report was prepared based on sustainable development standards from the Global Reporting Initiative (GRI) which are recognised both in Russia and internationally and allow for increased comparability of information with the reports of other companies in the sector.
The RSPP Board noted that the Report contains considerable information relating to aspects of responsible business management, such as Economic Freedom and Responsibility; Partnership in Business; Human Rights; Environmental Protection; and Participation in the Development of Local Communities. The Report takes into account the recommendations given by the RSPP Board following the previous Report for 2017. The Report includes observations on the effectiveness of internal social programmes based on an expanded range of criteria, fully explores the theme of observation of human rights, and includes plans for the next reporting period on the key areas of sustainable development.
Julia Mazanova, Social Policy and Corporate Communications Director at Management Company Metalloinvest, commented: “Sustainable development has become a key pillar in our Company’s strategy for long-term leadership. Successful development is only possible through partnership and the creation of separate values. Non-financial reporting helps us to inform all stakeholders about the Company’s activities and encourages them to work together with us. The verification of the Report by the RSPP will enhance trust in the Company, improve the quality of information disclosure and allow for increased transparency.”
Official verification of non-financial reporting provides independent confirmation of the information disclosed by companies about the work they undertake to run their business responsibly. This practice is increasingly developing across the world.
The RSPP Board on Non-Financial Reporting has officially verified 147 reports by 42 companies since 2009.
Members of the Board on Non-Financial Reporting include representatives of the RSPP, universities, audit companies, ratings agencies, consultants, analysts, independent experts, and specialists in corporate management and sustainable development.
Metalloinvest has published non-financial reports since 2009. The Sustainable Development Report for 2018 replaced the CSR Report which the Company published the previous year. This represents a major shift in the Company’s strategy, and the continuation in the development of non-financial reporting, in line with modern trends and increased transparency of information.
In July 2019, Metalloinvest presented its Sustainable Development Report, ‘Leadership in a time of change’. Event attendees included Metalloinvest management, key partners, clients and suppliers of the Company, state officials, representatives of the financial community, diplomatic circles and universities, as well as sustainable development experts from various industries.
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