01 December 2021, Moscow — Sistema PJSFC (“Sistema”, or the “Corporation”) (LSE: SSA, MOEX: AFKS), a publicly traded Russian investment company, announces joining the initiative to create a National ESG Alliance. Vladimir Chirakhov, President of the Corporation, signed an agreement to that effect at the first conference organised by Sber, where 28 leading Russian companies committed to work together on creating the Alliance.
The Alliance will aim to facilitate the transition to sustainable economic development by strengthening environmental protection, supporting social development, and enabling business growth while reducing the consumption of natural resources. This will be achieved through commitment, collaboration, and partnership of all the parties involved.
The National ESG Alliance was conceived as a permanent platform for dialogue and engagement for all stakeholders. This will include knowledge sharing between the business community; the government and society; developing and promoting of new ESG standards, including industry guidelines; devising common assessment and reporting frameworks; developing transformative partnerships; joining forces in the implementation of programs for achieving sustainable development goals; and facilitating investment support for breakthrough projects aimed at ESG transformation.
"Our accession to the ESG Alliance confirms our commitment to the sustainability principles that Sistema has been following for nearly 20 years as one of Russia's first signatories to the UN Global Compact. The Alliance will enable a more efficient cultivation of international principles and leadership practices in the spheres of corporate governance and social and environmental responsibility. We remain staunch advocates of ESG transformation and see our role in cascading best ESG standards across our asset portfolio as well as contributing to a more responsible investment culture nationwide", said Sistema's President Vladimir Chirakhov.
Originally, the proposal to set up an Alliance to combine the efforts of leading companies in the ESG transition was discussed at the Eastern Economic Forum in Vladivostok in September 2021. It was actively supported by representatives of leading Russian and international companies.