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Uralkali Publishes 2019 ESG Report
29.06.2020
PJSC Uralkali (the Company; Uralkali, Moscow Exchange: URKA), one of the world’s largest potash producers, today announces the publication of its 2019 ESG Report. The full report is available at link.
The Report, which has been assured by an independent third party, covers all areas related to the responsible operation and sustainable development of Uralkali’s business in the interest of all of the Company’s stakeholders. In particular, it includes an overview of Uralkali’s Sustainable Development Strategy, which was reviewed and enhanced during the reporting period, its progress towards its 2022 environmental targets, its plans to improve transparency and reporting around its sustainability initiatives and the Company’s broader role in providing global food security.
Report highlights:
Enhanced Sustainable Development Approach
Uralkali takes a proactive approach to managing Sustainable Development and in 2019 established a Working Group on Sustainable Development led by Dmitry Osipov, CEO, and including the heads of all the Company’s divisions. The Company’s enhanced Environmental, Social and Governance (ESG) strategy focuses on four main areas: reducing negative environmental impact, ensuring the health and wellbeing of employees, sustainable economic development, and stakeholder engagement.
Following a comprehensive assessment of existing ESG practices, in 2019 Uralkali developed a
The Company also confirmed its alignment to seven of the UN Sustainable Development Goals (SDGs): Goal 2: Zero Hunger; Goal 3: Good health and Wellbeing; Goal 6: Clean Water and Sanitation; Goal 8: Decent Work and Economic Growth; Goal 9: Industry, Innovation and Infrastructure; Goal 12: Responsible Consumption and Production; and Goal 13: Climate Action.
Progress towards achieving Uralkali’s 2022 environmental goals in 2019
- Uralkali has set a goal of reducing water intake by 10%
2017-2022, and has achieved a 9.8% reduction of water intake to date (down 8.4% y-o-y in 2019) - Energy consumption reduced by 6.5%
2017-2019 (down 6% y-o-y); well on track to meet the Company’s target of energy consumption reduction by 10% from 2017 by 2022 - Energy intensity levels reduced by 2.6% y-o-y
- Specific direct GHG emissions (greenhouse gas emissions) decreased by 9.4% y-o-y
- US$ 76.8 million allocated towards specific environmental protection initiatives over the course of the reporting period
Commitment to best-in-class corporate policies and reporting
- Uralkali aims to follow the best international corporate governance standards. Sustainable development management is integrated into the corporate governance system and delegated at all levels of the Company’s management
- Uralkali is conducting a full review of its internal documents regulating the management of various ESG issues, under this review the Human Rights Policy was developed and approved in 2020
- The Company is committed to increasing its level of disclosure on ESG matters, and in 2019 initiated dialogues with leading ESG ratings agencies
Addressing global issues
- Uralkali’s mission as one of the key players in the fertilizer industry is to provide global food security through promoting the efficient and responsible production and use of potash fertilizers. The Company runs regular educational projects for farmers to help them achieve higher crop yields, prioritizing countries where the issue of food security is most critical
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COVID-19: Uralkali is taking a proactive and comprehensive approach to minimising the risk of coronavirus infection to its employees, partners and local communities
Dmitry Osipov, Uralkali CEO, commented:
I am pleased to present Uralkali’s 2019 ESG Report, which has been approved by the Board of Directors. The Report outlines our strong progress and achievements in 2019, as well as our enhanced Sustainable Development focus and strategy. In particular, I would like to highlight that in 2019 we worked with independent experts to complete a comprehensive review of the Company’s ESG practices, leading to the development of a roadmap that will ensure that we continue to improve our ESG management over the forthcoming years.
Uralkali is committed to being a leader in Sustainable Development — this encompasses not only how we responsibly operate our business and address the interests of our immediate stakeholders, but also our commitment to playing an active role in helping address the critical issue of global food security by working with some of the world’s most affected communities.
In 2020 the unprecedented COVID-19 pandemic has reminded us of our vulnerability to disease and the importance of addressing health as part of social development. Whilst we continue to put the safety and wellbeing of our employees and local communities first during this challenging time, Uralkali recognises the need for organisations such as ourselves to take greater positive action to protect our planet for future generations. We remain focused on proactively addressing all of our sustainability priorities of health and safety, environmental protection, sustainable economic development and stakeholder engagement, and aim to keep our stakeholders informed on progress across all of these areas.
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.