Uralkali Expands the List of ESG Strategy Goals


Uralkali (the Company), one of the world’s largest potash producers, announces that the Company’s Board of Directors has approved its amended ESG Strategy for the period up to 2025, which contains an expanded list of quantitative and qualitative goals.

As part of the updated ESG Strategy Uralkali has also set new goals in such areas as employee wellbeing, quality and product governance, and preservation of bio-diversity.

The amended ESG Strategy also sets out a new goal in the area of developing sustainable supply chain. By 2025, Uralkali plans to ensure that suppliers of goods and services, who make up more than 50% of the Company's purchases, are covered by the assessment of compliance with ESG requirements. The pilot assessment of suppliers’ compliance with ESG requirements was launched in 2021 and the coverage of assessed suppliers will be gradually widened. The full list of updated ESG goals is available on the Company’s website.

The decision to strengthen the ESG Strategy was made based on the results of the Strategy’s implementation in 2021, taking into account the progress made in all major areas of ESG. Significant achievements have been made in working towards qualitative goals, including the development of a carbon management system, the approval of the Climate Strategy, the assessment of biodiversity in the areas where the Company operates and the development of a comprehensive program to jointly support the cities of presence with regional authorities based on an assessment of the needs of the local population. The Company has also shown progress in implementing the established plan by meeting key quantitative targets.

The Strategy’s successful implementation was confirmed by strong positions in international ratings. At the end of 2021, Uralkali achieved one of the best scores out of all global companies in the agrochemical sector in the S&P Global CSA assessment. The Company received 65 points, compared with 52 points in the previous year, which is significantly higher than the average score of chemical companies worldwide (30 points).

The Company is ranked 8th out of 155 Russian companies assessed in the ESG RAEX-Europe rating (as of 17.01.2022), which is the best result among Russian companies in the agrochemical sector. For more details on Uralkali’s positions in ESG ratings, please visit the Company’s website.

In 2021, the Company developed a number of ESG related documents. The Company’s Board of Directors approved the Diversity and Inclusion Policy, Human Resource Policy, updated Human Rights Policy, Tax Policy and the Supplier Code of Business Ethics.

Angelina Verba, Uralkali Chief Sustainability (ESG) and IR officer, commented:

In 2021, Uralkali began the implementation of the ESG Strategy until 2025. The year’s results show that the Company is well on its way to reaching its ESG goals. I’d like to express my gratitude to the members of the Sustainable Development Working Group for  their successful work. The strengthening of the ESG Strategy demonstrates our commitment to the approach of continuous improvement in developing our ESG practices.

Uralkali (www.uralkali.com) is one of the world’s largest potash producers and exporters. The Company’s assets consist of 5 mines and 7 ore treatment plants in the towns of Berezniki and Solikamsk (Perm Region, Russia). Uralkali employs more than 12,000 people in the main production unit.