Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, has joined the United Nations Global Compact.
Launched in 2000, the Global Compact is the UN’s largest international initiative for business in the areas of corporate social responsibility and sustainable development. Since its establishment, more than 13,000 companies and organisations from no fewer than 160 countries have joined the Compact.
PhosAgro is to be included in Global Compact LEAD, a group of around 30 global corporations that have achieved the best results in the area of corporate social responsibility.
As of today, PhosAgro Group is the only Russian company in the history of the UN to finance on an extrabudgetary basis initiatives with UNESCO and the Food and Agriculture Organization, with projects in the fields of green chemistry, food security and sustainable development.
PhoAgro CEO Andrey Guryev said: “For our company, which allocates more than RUB 2.5 billion every year for social and charitable projects and is constantly working to improve collective agreements while also implementing large-scale modernisations and building new production facilities using the best available technologies, it is a great honour to be a part of this international initiative.
“At the same time, it is also a big responsibility that reaffirms our intention to continue to strictly adhere to the principles of the Global Compact in the fields of corporate social responsibility and sustainable development, which is one of our key priorities.
“Participation in the Global Compact will enable us to take part in discussions on issues of global importance oncerning corporate social responsibility; to share our own practices and to learn from the successful practices and experiences of other corporations; to take part in developing new approaches, rules and standards for doing business throughout the world; and to contribute to the achievement of the UN’s Sustainable Development Goals for 2030.”