Sustainable development governance
Our governance framework for sustainable development (SD) relies on a number of internal and external drivers:
- Internal SD drivers are centred around PhosAgro’s mission and values, which, in turn, are upheld through our corporate strategy.
- External drivers include stakeholder expectations and the global community’s requirements for the maturity of the Company’s SD governance framework.
We directly promote 11 the UN sustainable development goals
6 main components of a sustainable development governance framework can be represented as the operating model for sustainable development:
Developing of local regulations.
Business processes and organisation
Establishing corporate bodies and units dedicated to governing sustainability matters, setting procedures for their operation, and ensuring cross-functional interaction within the Company.
Setting goals and targets, defining objectives and UN SDGs relevant to the Company, developing appropriate metrics and key performance indicators (KPIs).
Competencies and people
Providing staff training and ensuring continuity of sustainability-related competencies.
Developing and automating business processes.
Performance review and reporting
Implementing a standardised approach to reporting, ensuring performance review by top management, and adopting the requirements of leading ESG analysts and agencies under a phased plan to improve the Company’s ESG ratings. Documents and reports.
Aspects of sustainable development
We follow a carefully designed strategy in the field of sustainability, social investment and corporate governance:
Environmental protection is one of the Company’s top priorities throughout the entire product life cycle.
The priority areas of our environmental strategy include reduction of the Company’s negative impact on the environment, preservation of natural ecological systems and constant development of environmental management
We take care of our employees and implement significant projects in educational, medical, youth-related and professional sports areas
We are building an effective and transparent governance structure based on equality of shareholders, responsibility and accountability of each governance body, leadership and independence of the Board of Directors, and a corporate culture that does not tolerate any form of corruption or discrimination
Commitment to UN goals
In 2015, the United Nations approved 17 Sustainable Development Goals — these are our highest priority. We strive to contribute as much as possible to achieving those goals that are related to our field of activity by including them in PhosAgro’s development strategy.