August ESG ranking of Russian companies from RAEX-Europe
The RAEX-Europe agency has updated the assessment of Russian companies and released the August update of the ESG ranking. Now the list is headed by Sberbank PJSC, which moved up 47 lines and, having displaced PhosAgro PJSC, took the leading position.
Since April 2023, RAEX has been publishing not only a comprehensive ESG ranking, but also rankings of the E, S and G components, assigned by the agency based on assessments of corporate practices in the following areas: Environment, Social Relations, Corporate Governance ". Each of the four rankings (complex ESG and components E, S and G) has different leaders.
The August ESG ranking included ten companies from the timber industry and the pulp and paper industry:
- Segezha Group is 41st among all companies represented in the ESG ranking;
- Ilim Group — 53rd place;
- Arkhangelsk Pulp and Paper Mill — 63rd place;
- Sveza — 67th place;
- JSC "Solikamskbumprom" - 88th place;
- Mondi SYK - 89th place;
- Cherepovets Plywood and Furniture Plant — 96th place;
- Karelia Pulp — 142nd place;
- Group of companies "Titan" - 151st place;
- UPM Chudovo — 160th place.
Olga Kalyuzhnaya, President of the Russian Forest Association: “Demand for independent ESG rankings is growing following the increase in investments tied to the implementation of sustainability principles by businesses. Those forest industry companies that are already actively integrating the sustainable development agenda into their business processes will have more loyal customers in the future, as well as better maintain their market positions. ESG rankings are a tool for measuring this company's activity in target areas..
ESG-ranking is assigned by a specialized agency and is focused on ensuring sustainable business development in the environmental, social and management areas. Such a ranking can also become an important factor in the interaction of companies with investors and partners.