Rosneft has become the best Russian company in the international human rights rating of the Corporate Human Rights Benchmark, corporate website reports.
Since 2013 CHRB, supported by a coalition of about 90 investors with over $5.3 tln assets under management has been monitoring the measures taken by companies to improve human rights performance and its compliance with investor expectations. The key evaluation criteria include integration of human rights issues into corporate governance, availability of legal remedy, public response to alleged human rights violations and information transparency.
In its 2019 Key Findings Report, CHRB raised Rosneft’s human rights rating by 11 percentage points to 32.7%. This is one of the strongest growth dynamics among international extractive companies. The company score is above the industry average, and higher than that of all other Russian producers in the rating. Rosneft also outperformed such majors as ExxonMobil, PetroChina, ONGC, OMV, among others.
CHRB experts noted the company’s transparency and responsibility in the area of human rights in the course of its business activities.
Since 2007, Rosneft has been publishing the Sustainability Report in accordance with the international standards of the Global Reporting Initiative. The Company has also been a member of the UN Global Compact for 10 years thus confirming its commitment to respect human rights. In December 2018, the Rosneft Board of Directors approved the company’s strategic commitment to the 17 UN sustainable development goals and the Public statement – “Rosneft: Contributing to implementation of UN Sustainable Development Goals.”
In 2019, Rosneft’s efforts in the area of sustainable development were recognized by a number of international ESG ratings. The company received the A rating from Refinitiv (formerly, the Financial and Risk arm of Thomson Reuters), joining the top-five industry leaders.
Bloomberg analysts in the field of sustainable development assigned Rosneft a rating of 63.9, making the company one of the leaders on this indicator, ahead of many international oil and gas companies in its peer group. According to the results of the Corporate Sustainability Assessment of the international company SAM, Rosneft improved its rating by 12 positions to 57.