Alrosa published its annual Sustainability Report, which reflects a comprehensive approach to the implementation of responsibility principles and discloses the performance of the company and its subsidiaries for 2018-2020 in terms of economic efficiency, human capital development, environmental protection, regional development and corporate governance.
The report was prepared in accordance with the GRI Standards (the Core option) and passed the independent assurance by PricewaterhouseCoopers Audit. Furthermore, as Alrosa joined the UN Global Compact in 2021, it provided information on its commitment to and compliance with its ten principles.
As part of the preparation of its tenth Sustainability Report, Alrosa made considerable efforts to improve its data collection and disclosure tools. Among other things, the company expanded the reporting scope by including data from its mining and polishing subsidiaries and enhanced ESG disclosures following the detailed analysis of stakeholder needs, including investors and rating agencies. Alrosa also reduced the time required to prepare the report and factored in the recommendations of the leading international sustainability standards and guidelines, including TCFD. Special attention was paid to Alrosa’s contribution to achieving the UN Sustainable Development Goals (SDGs), which serve as a strategic basis for the sustainable approach. A dedicated analysis has helped identify 13 priority and high relevance SDGs for the company to focus on going forward.
The report does not only provide a review of the key performance indicators and projects in terms of their sustainability, but also sets out plans for the company’s development in the coming years. A separate subsection focuses on the company’s response to the challenges posed by the coronavirus pandemic.
“The Sustainability Report for 2020 is Alrosa’s tenth. This confirms the company’s commitment to openness and transparency for all stakeholders, as well as its continued engagement on strengthening the market positions and achieving sustainable development goals. Creation of conditions and opportunities for regional development, employment of people from local communities, respect of human rights and gender equality principles, careful and rational use of natural resources are all among our key focus areas. Despite the challenges faced in 2020, we continued our journey towards sustainable development and provided immediate assistance to the local communities by investing over RUB 1 billion in anti-Covid-19 initiatives and offering the regional healthcare system a significant sponsorship package,” said Sergey Ivanov, Alrosa’s CEO.
Ever since its inception, Alrosa has focused on sustainable development and implemented numerous social and environmental initiatives. The company’s achievements are recognised through its inclusion in the FTSE4Good, MSCI ESG, WWF Russia, Sustainalytics, and ISS ESG ratings. In 2021, the company joined the UN Global Compact.