Moscow – MSCI ESG Research has upgraded PhosAgro’s sustainability rating from BBB to A, underscoring the Company’s leading position among Russian companies and among global producers of mineral fertilizers.
MSCI ESG Research assigns its ratings to global publicly traded companies and a range of private companies, assessing their environmental, social responsibility and governance (ESG) risks and their ability to manage those risks relative to competitors. Detailed information on MSCI ESG ratings is available here
PhosAgro’s rating was upgraded to A because of the Company’s positive results in the area of sustainable development and its mainstreaming of advanced ESG practices in its strategy and day-to-day operations.
“We are especially proud of the fact that a respected agency such as MSCI ESG has rated PhosAgro as one of the global leaders in sustainable development. We have been taking a comprehensive and systematic approach to the introduction of ESG principles in our operations: in 2020, the Board of Directors approved climate and water strategies and adopted as the basis a low-carbon transition plan, which includes measures to reduce our own emissions and emissions in our value chain, and also to improve the energy efficiency of our production facilities and infrastructure.
“Moreover, PhosAgro published a report for the first time in 2020 in line with the recommendations of the Task Force on Climate-related Financial Disclosures. Thus, by taking a responsible approach to doing business, PhosAgro has confirmed its commitment to achieving global ESG goals,” said Andrey Guryev, PhosAgro’s CEO and a member of the Company’s Board of Directors.
PhosAgro has also received several other high ratings from leading sustainability agencies. In 2020, 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 respected research firm in the area of climate responsibility metrics, upgraded PhosAgro’s rating from C to B-. In a rating by Institutional Investor, one of the world’s leading financial publications, PhosAgro was ranked first in six categories, including Environmental, Social and Management Responsibility Metrics.