OJSC PhosAgro (PHOR)
PhosAgro's CDP Climate Rating Upgraded to B-
22-Dec-2020 / 16:10 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
For Immediate Release 22 December 2020
PhosAgro's CDP Climate Rating Upgraded to B-
Moscow - PJSC PhosAgro (Moscow Exchange, LSE: PHOR) ("PhosAgro", the
"Company"), one of the world's leading vertically integrated phosphate-based
fertilizer producers, hereby announces that the CDP (Carbon Disclosure
Project), one of the largest and most authoritative studies of companies in
terms of climate responsibility metrics, has upgraded PhosAgro's rating.
PhosAgro presented its climate reporting for the second time. According to
the results of the annual assessment of reporting on measures to fight
climate change, the Company's CDP rating was raised from C to B- (on an A-F
scale, where A is the best possible score). The improvement is associated
with ongoing work on the implementation of the Company's climate strategy,
which includes development and analysis of climate scenarios, a climate risk
assessment, emissions reduction targets and a low-carbon transition plan, as
well as improved non-financial disclosure.
More than 9,600 organisations, 800 cities and over 120 countries and regions
around the world submit reports to the CDP on climate change mitigation. The
number of reports is increasing every year, making the CDP one of the most
representative and most respected ratings in the area of sustainable
development.
In its CDP reporting, a company discloses information on greenhouse gas
emissions, on its initiatives to reduce greenhouse gas emissions and on its
corporate governance system as it relates to combating climate change. The
rating pays special attention to this last element.
Irina Bokova, an independent member of PhosAgro's Board of Directors and
Chair of the Company's Sustainable Development Committee, said: "Combating
climate change is an integral part of our day-to-day operations. We
appreciate recognition of our achievements; at the same time, we are aware
of the responsibility that we accept along with that recognition. There is
still a lot to be done; we plan to reduce greenhouse gas emissions together
with our suppliers, for which we are developing a system of 'green
procurement'. The investment programme aimed at modernisation and production
efficiency is being developed with the Company's environmental footprint in
mind, and this will enable the Company to reduce its direct greenhouse gas
emissions. However, we see climate change from a broader perspective, and we
are developing solutions for the entire chain from factory to farm and from
farm to fork. This approach - cooperation with farmers and with science -
improves the sustainability of the entire production and consumption system,
and guarantees high-quality, safe and sustainable - from the point of view
of climate - products on our tables."
PhosAgro CEO Andrey Guryev said: "the environmental aspects of the Company's
operations and the fight against climate change are very important
components of decision-making. We have achieved a great deal this year this
year, and we revised our list of the UN Sustainable Development Goals; SDG
13 (climate action) is now among the goals that we are working hard to
support. In the context of the Company's Strategy to 2025, PhosAgro has set
ambitious goals; our potential and our capabilities have enabled us to
achieve excellent results in terms of improving our operations as they
relate to sustainable development and in terms of ensuring to our planet's
food security."
Earlier this year, the UN reaffirmed PhosAgro's status as a Global Compact
LEAD company, a status limited to only 41 companies worldwide. In addition,
Sustainalytics improved the Company's ESG rating from 43.5 to 26.9, which is
one of the highest ESG risk management ratings assigned by the agency to the
largest Russian companies and global fertilizer producers. Another
authoritative sustainability agency, MSCI ESG Research, upgraded PhosAgro's
rating to BBB in August 2020.
About the company
PhosAgro (www.phosagro.ru [1]) is one of the world's leading vertically
integrated phosphate-based fertilizer producers in terms of production
volumes of phosphate-based fertilizers and high-grade phosphate rock with a
P2O5 content of 39% and higher. PhosAgro's environmentally friendly
fertilizers stand out for their high efficiency, and they do not lead to the
contamination of soils with heavy metals.
The Company is the largest phosphate-based fertilizer producer in Europe (by
total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of
high-grade phosphate rock with a P2O5 content of 39%, a top-three producer
of MAP/DAP globally, one of the leading producers of feed phosphates (MCP)
in Europe, and the only producer in Russia, and Russia's only producer of
nepheline concentrate (according to the RAFP).
PhosAgro's main products include phosphate rock, more than 50 grades of
fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which
are used by customers in 102 countries spanning all of the world's inhabited
continents. The Company's priority markets outside of Russia and the CIS are
Latin America, Europe and Asia.
PhosAgro's shares are traded on the Moscow Exchange, and global depositary
receipts (GDRs) for shares trade on the London Stock Exchange (under the
ticker PHOR). Since 1 June 2016, the Company's GDRs have been included in
the MSCI Russia and MSCI Emerging Markets indexes.
More information about PhosAgro can be found on the website: www.phosagro.ru
[1]
ISIN: US71922G2093
Category Code: MSCM
TIDM: PHOR
LEI Code: 25340053KRUNNYUWF472
Sequence No.: 90180
EQS News ID: 1156971
End of Announcement EQS News Service
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=443ca16678306c21ad7d78a6b83a5230&application_id=1156971&site_id=vwd&application_name=news(END) Dow Jones Newswires
December 22, 2020 08:10 ET (13:10 GMT)
