Staff Reporter
MOSCOW, December 1 — AKPA Rating Agency has recently elevated Rosatom’s ESG rating from ESG-3 (ESG-В) to ESG-2 (ESG-В), signifying an impressive commitment to environmental protection, social responsibility, and effective management.
The six principal divisions of Rosatom, encompassing Mining, Power Generation, Sale and Trading, Fuel, Engineering, and Machine Building, collectively contributed crucial data for the ESG rating. These divisions represent over 70% of Rosatom’s consolidated revenue.
Polina Lion, Director of the Sustainable Development Department at Rosatom, highlighted the significance of AKPA’s consideration of individual divisions’ documents, practices, and indicators. This approach allows for a nuanced understanding of areas for improvement in the sustainable practices of Rosatom organizations, facilitating the implementation of specific ESG requirements at both strategic and operational levels.
Vladimir Gorchakov, Head of the Sustainable Development Risk Assessment Group at AKPA (JSC), attributed the upgraded ESG rating to improvements in individual policies and practices within the State Corporation during 2022-2023. Positive dynamics in several assessed indicators, coupled with initiatives such as greenhouse gas release calculations, Methodological Guidelines on Greenhouse Gas Release Calculations, the Roadmap for Adaptation to Climatic Changes, and a new 5-year Energy Saving and Efficiency Enhancement Program in 2023, contributed to this elevation.
The upgraded ESG rating holds potential significance in African-Russian cooperation. Given the paramount importance of the ESG theme for the African continent, not only for its eco-friendly approach but also for its broader impact on the region’s transformation. Africa, with its unique biodiversity, fragile ecosystems, and vulnerable communities, necessitates a focus on sustainable practices, social inclusion, and robust governance.
In the face of socio-economic challenges, including poverty, inequality, inadequate healthcare, and education, prioritizing ESG principles becomes a tool for social development and inclusivity. The preservation of Africa’s rich biodiversity is not only environmentally essential but also critical for promoting ecological balance and resilience. ESG principles enable African nations to establish sustainable land and resource management systems, combat deforestation, preserve habitats, and mitigate the adverse effects of climate change. Rwanda, for instance, exemplifies such commitment through legislation prohibiting the manufacturing, importation, use, and sale of plastic carry bags and single-use plastic items.
Beyond environmental responsibility, embracing the ESG theme becomes economically and socially beneficial for the African continent. It facilitates the preservation of unique natural ecosystems, the enhancement of social well-being, and the promotion of good governance.
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