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Rosneft Publishes 2021 Sustainability Report

22 August 2022

Rosneft Oil Company’s Board of Directors has approved the 2021 Sustainability Report.

The document presents Rosneft Oil Company’s sustainability achievements in the reporting period. Rosneft has become the only Russian oil and gas company to be awarded sustainability leadership status in 2021 and to get included in the Global Compact LEAD initiative for its continued commitment to the UN Global Compact and the ten principles of sustainable business.

At the end of 2021, the Company’s Board of Directors approved the “Rosneft 2030: Reliable Energy and Global Energy Transition” strategy based on the goal of achieving carbon neutrality by 2050 for Scope 1 and 2 emissions. This will be possible through the implementation of a number of strategic initiatives, including significant reduction of greenhouse gas emissions, achieving zero routine flaring of associated petroleum gas and reducing methane emissions intensity to less than 0.2% by 2030, gradual conversion of the Company’s own transport to low-carbon fuels, etc.

The net zero goal is also to be achieved by increasing the use of low-carbon energy sources, energy-saving technologies and carbon capture and storage, and by developing natural carbon sinks in forests.

By implementing the Strategy, the Company will minimise its environmental impact while maintaining and strengthening its position on the hydrocarbon market. Rosneft is very active in this area. Over the reporting year, the Company consolidated its industry leadership in terms of specific carbon dioxide emissions.

In 2021, Rosneft had made extensive preparations for a unique integrated environmental forestation project to ensure carbon capture of 10 million tonnes of carbon dioxide equivalent, which the Company launched this June. Moreover, Rosneft contributes greatly to GHG emissions capture within Russia’s forests by planting young trees in the regions of its operations every year. In 2021 alone, the Company’s enterprises planted more than 9.3 million saplings and young trees.

In 2021, the Company also unveiled its Environmental Vision 2035, which brings together three priority areas: carbon management, biodiversity conservation and environmental protection activities.

The Company has invested over 200 billion roubles towards improving the sustainability of its business as part of the Rosneft 2022 strategy, with green investments totalling around 55 billion roubles in 2021.

Rosneft is implementing a number of comprehensive programmes for the preservation and restoration of natural resources. In 2021, the Company reduced its gross emissions by 12%, particularly by implementing a programme for associated petroleum gas utilisation.

Over the reporting year, Rosneft continued to implement a range of land remediation measures; some of the Group’s enterprises ensured 100% remediation of “historical heritage” land.

Rosneft’s activities involve the use of water resources, so it pays considerable attention to water management. The Company cut its overall water withdrawal by 8% due to measures to reduce water consumption and the volume of water taken from natural sources. In 2021, the share of recycled and reused water exceeded 93% of the total volume of water that was used for production purposes.

Activities for aquatic biological resources replenishment are carried out on a regular basis. In 2021, the subsidiaries released more than 120 million fry into Russia’s river systems.

The contribution to the fight against the COVID-19 pandemic was also a significant feature of the Report, with regards to the current sustainability agenda in Russia and the world. Rosneft’s top priority has always been, and still is, taking care of Rosneft employees and protecting their lives and health. The Company established an effective system of emergency response to the spread of the pandemic. In 2021, the level of herd immunity reached 95% of the total number of Rosneft employees and 90% of the total number of Group’s enterprises’ employees. The Company also supported regional healthcare services.

As a socially responsible company, Rosneft consistently implements a policy of integrated social and economic development in the regions where it operates. The Company builds long-term partnerships with all members of local communities, notably by engaging small and medium-sized businesses as suppliers to the Company, cares to preserve social and cultural heritage, and supports the development of key infrastructure projects in healthcare, education, culture and sport.

Preservation of the culture and way of life of the indigenous peoples of the North is one of the key areas of Rosneft’s social policy. The Company runs charity projects in the Taimyr Peninsula, Krasnoyarsk and Khabarovsk Territories, Irkutsk and Tyumen Regions, Khanty-Mansi Autonomous District—Yugra, Yamalo-Nenets and Nenets Autonomous Districts, and the Republic of Sakha (Yakutia).

Rosneft undertakes extensive scientific work to address the practical challenges of supporting indigenous peoples. The number of grant projects by the Company’s enterprises—Vostsibneftegaz, RN-Uvatneftegaz, Tyumenneftegaz and RN-Purneftegaz—increases every year. The research results help to preserve the ancestral territories of indigenous peoples and their unique cultural heritage, as well as to study populations of red-listed animals and birds that are bio-indicators of indigenous territories.

Highly qualified employees, efficient management, advanced technology and a large-scale resource base are key to the Company’s success and sustainable development.

Note for Editors:

The Rosneft Sustainability Report 2021 is the sixteenth of its kind.

The Report has been prepared under the Global Reporting Initiative’s International Sustainability Reporting Standards (GRI Standards). The Report takes an integrated approach to the disclosure of information on the economic, environmental and social aspects of the Company’s activities, tailored to the specifics of the oil and gas industry.

As an oil and gas industry leader, Rosneft remains committed to the 17 UN Sustainable Development Goals and the core principles of the UN Global Compact to address the world’s most significant sustainability challenges.

Rosneft
Information Division
August 22, 2022

Keywords: Corporate governance 2022