Moscow – PhosAgro (“Company”, “Group”, MOEX, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that, as part of a regular review, MSCI ESG Research has affirmed the Company’s sustainability rating of BBB (on a scale from AAA to CCC, where AAA is the top rating).
MSCI ESG Research assigns ratings to global publicly traded companies and a range of private companies, assessing their environmental, social and governance (ESG) risks and their ability to manage those risks relative to peers. Detailed information on MSCI ESG ratings is available here.
PhosAgro’s rating is one of the highest that MSCI has assigned to Russia’s largest companies.
“We are pleased that MSCI ESG Research has once again lauded the results of our sustainability efforts. Sustainable development is, to a great extent, integrated into PhosAgro’s strategy: we pay a great deal of attention to addressing the social and environmental challenges facing us and society as a whole.
“Last year, we made considerable progress towards our global ESG goals: PhosAgro’s Board of Directors approved climate and water strategies and adopted a low-carbon transition plan, which includes measures to reduce our own emissions and emissions in the value chain, as well as to improve the energy efficiency of the Company’s production facilities and other infrastructure. This and our other decisions prove that the Company’s approach to sustainable development is focussed and systematic and, as a result, is having the desired effect,” said Andrey Guryev, PhosAgro’s CEO and a member of the Company’s Board of Directors.
PhosAgro is a recognised leader in sustainable development. In 2020, the Company affirmed its LEAD status in the UN Global Compact. Earlier, Sustainalytics upgraded PhosAgro’s ESG rating from 43.5 to 26.9, which is one of the best ESG risk management ratings in the Russian market. CDP, a research firm in the area of climate responsibility metrics, upgraded PhosAgro’s rating from C to B-. In a rating by Institutional Investor, PhosAgro was ranked first in six categories, including Environmental, Social and Management Responsibility Metrics.