Segezha Group Board of Directors approves Sustainability Strategy and ESG Policy
Segezha Group, a leading Russian vertically integrated holding company in the forest industry performing a full cycle of operations from logging to advanced wood processing, announces that the Board of Directors approved the Group’s Sustainability Strategy as well as an ESG Policy during the meeting that took place on March 31.
Segezha Group’s new Sustainability Strategy is based on four pillars:
innovative forest business;
making Russia’s forest regions a better place to live;
climate-smart forest management and production;
responsible forest supply chain.
Select goals identified under the Sustainability Strategy include:
targeting that 100% of leased timber land is FSC and/or PEFC certified;
funding 50% of capex with green financing;
and full voluntary certification of the Company’s supply chain to ensure compliance with principles of responsibility, inclusivity and resilience.
Segezha Group is taking a number of steps to ensure its ESG disclosure and performance are aligned with internationally recognised practices. Earlier this month, the Group joined the UN Global Compact, the world’s largest corporate sustainability initiative, which provides a framework for developing more sustainable and responsible businesses.