Stakeholder engagement
Statement of the Chairman of the Strategy and Sustainable Development Committee
Sustainable development remains the cornerstone of PhosAgro's strategy, and we intend not only to maintain, but also to reinforce our focus on ESG integration in our corporate governance and current operations. Aware that full and timely reporting is key to achieving this goal, we place a strong emphasis on preparing relevant reports.
For the second year running, we are making disclosures in line with the TCFD recommendations. This methodology, also used in this Report, enables us to cover a wide range of steps we take across such areas as environmental protection, social responsibility and corporate governance. A disclosure approach focused on a product’s lifecycle is instrumental in providing the most complete and well-structured information about the Company’s performance, while maintaining a balance between the interests of diverse stakeholder groups.
I would also like to highlight the external recognition of our efforts. PhosAgro's Integrated Annual Report 2021 won the Grand Prix of the Moscow Exchange's 25th Annual Report Competition as the best report of companies with a capitalisation of over RUB 200 bln. This is our first reward of this kind, and we highly appreciate such a high recognition of our efforts by the investment community. We are doing our best to make sure our reporting complies with the highest standards going forward.
Our ability to listen and understand, be quick in our response, and effectively work with a wide range of stakeholders is key to the approach we use in doing business. It provides a solid foundation for delivering on strategic SDGs.
Alexander Sharabaika Chairman of the Audit and Sustainable Development Committee of the Board of Directors
Approach to stakeholder engagement; identifying and selecting stakeholders
For us, engagement with stakeholders begins when we realise our common goals and interests. A stakeholder is a person or organisation that has an interest in what we do. Stakeholders also include persons or organisations that may be affected by our activities or can influence our business decisions.
Understanding stakeholder views facilitates many processes. It helps us develop new products for our customers, raise awareness among farmers about modern agricultural practices and techniques, work with researchers to present ambitious innovative projects connecting science and business and, most importantly, make informed practical choices to improve economic, social and environmental conditions where the Company can make a difference.
In our engagement with our stakeholders, we strive to be constructive, open and principled. Thus, we work hard to build partner relationships in the towns where we operate and ensure that we strictly comply with all applicable regulatory requirements.
PhosAgro’s framework for stakeholder engagement management covers all tiers of corporate governance.
Our key stakeholders:
Employees and trade unions
Investment and finance community,
including investors, shareholders and ESG rating agencies
Regional governments and local communities
Consumers
Suppliers and contractors
International organisations
Research community
Business and industry associations
You can send your comments and proposals regarding corporate reporting to ir@phosagro.ru or esg@phosagro.ru.
Feedback from shareholders and other stakeholders helps PhosAgro improve reporting transparency and quality.