The Russian state atomic energy corporation Rosatom has received high ratings from the country’s biggest rating agency, the Analytical Credit Rating Agency (ACRA), on account of its performance in the area of sustainability.
ACRA has assigned Rosatom an ESG-3 rating, and placed it in category ESG-B, which corresponds to a very high assessment. An ESG assessment analyzes the quantitative and qualitative characteristics of the subject entity’s activities in the fields of ecology, social responsibility, as well as corporate governance.
As per their website, ACRA’s ESG assessment determination of Rosatom is a “very high assessment in the field of the environment, social responsibility and governance. Increased attention is paid to the environment, social responsibility, and governance matters.”
“The assessment is based on the Company’s (Rosatom) favorable indicators in the fields of environmental impact and social responsibility compared to peer companies, as well as high quality corporate governance”, ACRA said.
Five key divisions of Rosatom were assessed through questionnaires, analysis of public and non-public information, including non-financial reporting and corporate governance documents, as well as interviews.
ACRA also took note of Rosatom’s implementation of policies and procedures for managing key ESG risks.
“According to the ESG Assessment Methodology, a very high ESG assessment means that the Corporation pays increased attention to environmental, social responsibility, and governance matters”, ACRA said.
In terms of its key assessment factors, the rating agency noted, for instance, the “very high assessment of the Corporation’s activity in the area of environmental impact and its actions to minimize environmental risks.”
Rosatom said in a statement that it has been following the sustainable development principles for many years, which have been incorporated in the company’s long-term strategy.
“In 2020, the Unified Industry Policy for Sustainable Development was adopted. In October of the same year, Rosatom joined the UN Global Compact, the largest international initiative for business in the area of corporate social responsibility and sustainable development”, the statement said.
“ESG principles remain the main development trend of the country’s business community. The concept of sustainable development implies efficient use of resources, harmonious development of society, being an integral part of progress”, it added.
Rosatom’s strategy is to develop low-carbon power generation projects, including in the wind generation field. Today the company brings together over 300 enterprises and organisations and over 250,000 employees.
