Moscow – PhosAgro is the top-rated company in the latest ESG ranking by the independent agency RAEX, which recognizes companies for their exemplary environmental, social and governance (ESG) practices.
RAEX has been ranking companies since 2018 on the basis of a comprehensive analysis of their management of ESG risks and opportunities. The latest ranking, the first compiled under RAEX’s updated methodology, features 80 companies from Russia and neighbouring countries demonstrating leading ESG performance.
PhosAgro not only secured the highest overall ESG score but was also the top-ranked company in terms of social impact.
RAEX’s new methodology, updated in October 2024, emphasizes the specific nature of a company’s operations and incorporates industry-specific ESG indicators into its assessments. In addition, stricter entry requirements were introduced, requiring that that companies meet minimum ESG data disclosure standards rather than merely declaring their commitment to sustainability.
RAEX upgraded PhosAgro’s overall ESG rating from AA to AAA, making it the first company to earn the agency’s highest-possible rating. PhosAgro received AAA ratings for both social and governance factors, and an AA rating for its environmental performance, giving it a total score of 90.79 out of 100. As RAEX noted, “The Company’s management of ESG risks and opportunities is exemplary.”
RAEX highlighted PhosAgro’s water management initiatives as well as environmental policies and procedures that have enabled it to achieve its environmental targets and demonstrate an improvement in specific indicators. Regarding social factors, RAEX analysts noted PhosAgro’s enhancement of social programmes for employees, the expansion of its benefits package and the substantial funding allocated for community needs, philanthropy and the development of infrastructure in the regions where the Company operates. In the governance category, PhosAgro received high marks for its regular financial and non-financial reporting, independently verified by professional and public third parties, as well as its strong policies on information security and data confidentiality, among other issues.
RAEX CEO Dmitry Grishankov noted PhosAgro’s outstanding performance and congratulated the Company: “Our sustainability research shows that mining and metals companies, followed by chemical companies, had the highest average ESG score. PhosAgro, which operates in both industries, led our October ranking – the first to use our new methodology. We paid particular attention to the Company’s strong social policy, which is reflected in its ranking. It is worth noting that PhosAgro has demonstrated ongoing year-on-year progress. PhosAgro’s overall rating of AAA, the highest possible, is evidence of its forward momentum, which we greatly value.”
PhosAgro CEO Mikhail Rybnikov thanked RAEX’s experts for their work: “Being ranked as the top ESG performer and receiving the highest-possible score underscores our commitment to sustainability. For many years, we have systematically integrated the best available technologies and adhered to high standards of corporate governance. Our focus on employee welfare and the well-being of the communities where we operate has been the cornerstone of our rapid growth since our inception, with particular attention paid to health and safety. We are constantly improving our governance and expanding our support for social and charitable initiatives, to which we allocated more than RUB 25 billion in 2022–2023 alone.”
RAEX has been ranking companies since 2018 on the basis of a comprehensive analysis of their management of ESG risks and opportunities. The latest ranking, the first compiled under RAEX’s updated methodology, features 80 companies from Russia and neighbouring countries demonstrating leading ESG performance.
PhosAgro not only secured the highest overall ESG score but was also the top-ranked company in terms of social impact.
RAEX’s new methodology, updated in October 2024, emphasizes the specific nature of a company’s operations and incorporates industry-specific ESG indicators into its assessments. In addition, stricter entry requirements were introduced, requiring that that companies meet minimum ESG data disclosure standards rather than merely declaring their commitment to sustainability.
RAEX upgraded PhosAgro’s overall ESG rating from AA to AAA, making it the first company to earn the agency’s highest-possible rating. PhosAgro received AAA ratings for both social and governance factors, and an AA rating for its environmental performance, giving it a total score of 90.79 out of 100. As RAEX noted, “The Company’s management of ESG risks and opportunities is exemplary.”
RAEX highlighted PhosAgro’s water management initiatives as well as environmental policies and procedures that have enabled it to achieve its environmental targets and demonstrate an improvement in specific indicators. Regarding social factors, RAEX analysts noted PhosAgro’s enhancement of social programmes for employees, the expansion of its benefits package and the substantial funding allocated for community needs, philanthropy and the development of infrastructure in the regions where the Company operates. In the governance category, PhosAgro received high marks for its regular financial and non-financial reporting, independently verified by professional and public third parties, as well as its strong policies on information security and data confidentiality, among other issues.
RAEX CEO Dmitry Grishankov noted PhosAgro’s outstanding performance and congratulated the Company: “Our sustainability research shows that mining and metals companies, followed by chemical companies, had the highest average ESG score. PhosAgro, which operates in both industries, led our October ranking – the first to use our new methodology. We paid particular attention to the Company’s strong social policy, which is reflected in its ranking. It is worth noting that PhosAgro has demonstrated ongoing year-on-year progress. PhosAgro’s overall rating of AAA, the highest possible, is evidence of its forward momentum, which we greatly value.”
PhosAgro CEO Mikhail Rybnikov thanked RAEX’s experts for their work: “Being ranked as the top ESG performer and receiving the highest-possible score underscores our commitment to sustainability. For many years, we have systematically integrated the best available technologies and adhered to high standards of corporate governance. Our focus on employee welfare and the well-being of the communities where we operate has been the cornerstone of our rapid growth since our inception, with particular attention paid to health and safety. We are constantly improving our governance and expanding our support for social and charitable initiatives, to which we allocated more than RUB 25 billion in 2022–2023 alone.”