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Rosneft publishes 2019 Sustainable Development Report

31 July 2020

Rosneft published Sustainable Development Report following 2019 performance.

The Report is prepared in compliance with international sustainable development reporting standards of the Global Reporting Initiative (GRI Standards), which secured comprehensive information disclosure about economic, environmental and social aspects of the Company activities with regard to the oil and gas industry specifics and interests of the concerned parties.

Climate change struggle and greenhouse gases emissions reduction are the priorities of Rosneft production activities. Information about the Company achievements in this area is one of the Reports key themes.  

One of the Rosneft strategic objectives is to establish itself as a leader and to be one of the leading international companies in terms of greenhouse gases unit emissions. The Company joined the global industry initiative “Guidelines for methane emissions reduction in the natural gas production and sales chain”. Rosneft established cross-functional Carbon Management Subcommittee to coordinate the Company activities in this area. Today results of work in this area are already visible: in 2019 the Company reduced fugitive methane emissions in oil and gas production by more than 70%. 

As part of low carbon business segment development Rosneft increases natural gas production and production of new product types with improved environmental properties. The Company also actively implements own innovative emission reduction technologies. As part of Gas Investment Program in 2019 the average APG utilization indicators at the Company brownfields reached 93.8 %.

Rosneft is focused on the Company personnel investments. In 2019 Rosneft became the best Russian Company in the international CHRB (Corporate Human Rights Benchmark) rating for the human rights observance. The Company rating grew by 11 percentage points – it is one of the highest growth indicators among international production companies.

As a socially responsible company Rosneft consistently implements a policy aimed at comprehensive social and economic development in the regions of presence. The Company establishes long term partnerships with all the representative of the local communities by the involvement of small and medium business as Company suppliers, it is concerned about the preservation of social and cultural heritage, supports key infrastructure projects development in the area of health care, education, culture and sport. Rosneft respectfully treats native people traditions and cultural diversity of the regions. The Company allots priority importance to support original ethnic cultures of the native population, their traditional way of life and activities and to provide qualitative education and medical services for the native people.     

The Company sticks to the responsible business practice principles at the interaction with a wide range of contractors and establishes relations considering mutual interests, openness, competitiveness and efficiency. High products quality, their environmental properties and service standards throughout the entire Company retail sites network makes it possible for Rosneft to be one of the leaders of the Russian retail market.

As a leader of the oil and gas industry, Rosneft is committed to 17 UN Sustainable Development goals and main principles of UN Global Charter, which play a key role in the resolution of the most important global sustainable development problems, such as human rights observance, corruption prevention as well as reduction of global warming pace, climate change implications and ecosystem pressure. Rosneft arranges  its activities with regard to the above targets, principles and expectations of the interested parties, which will be the basis of its sustainable development in future.  

Rosneft Sustainable Development report is addressed to shareholders, investors, representatives of state and municipal authorities, employees, partners and clients, public and environmental agencies, scientific and education institutions, wide range of Russian and international community representatives. 

Report completeness and data validity as well as its compliance with the principles and requirements of GRI standards are confirmed by an independent audit, made by the leading international auditor - EY company.

July 31, 2020

Keywords: Corporate Governance 2020