RAEX-Europe independent credit rating agency has included nine Russian timber companies in the updated integrated ESG ranking. Segezha Group is the leader among sustainably minded domestic companies in the wood industry, ranking 36th in the general list of Russian businesses.
RAEX-Europe has conducted ESG ranking of Russian companies for the third year in a row. The ranking includes 110 companies from 20 industries that publish non-financial reporting according to GRI (Global Reporting Initiative) standards. To participate in the ranking, the company must strictly adhere to the principles of ESG, create policies and prepare reports, and achieve specific goals in the “Environmental” (ecology), “Social” (social policy), and “Governance” (management) areas. The European Green Deal and the introduction of the carbon border adjustment mechanism are new incentives in Part E for Russian exporters of downstream timber products.
Segezha Group regularly prepares sustainable development reports and implements a sustainable forest management policy. The company is working to harmonize the disclosure and implementation of its ESG initiatives with international practices. In April 2021, the holding approved a Sustainable Development Strategy and Policy. The strategy focuses on four key areas: an innovative timber business, comfortable living in the forested regions of Russia, climate-oriented forest management and production, and essential supply chain in the wood industry. The development and approval of a decarbonization strategy based on Science Based Targets is a top priority.