LUKOIL PUBLISHES ITS 2018 SUSTAINABILITY REPORT
Wednesday, July 3, 2019
PJSC LUKOIL published its ninth Sustainability Report presenting 2018 results. As before, the Company was guided by the following standards in preparing the document: Global Reporting Initiative (GRI), Business Reporting on SDGs, UN Global Compact, Social Charter of Russian Business and key performance indicators of the Russian Union of Industrialists and Entrepreneurs.
LUKOIL continuously improves the quality of its non-financial reporting by aligning corporate tasks with the United Nations Agenda for Sustainable Development among other things. The Report defines 11 top-priority UN Sustainable Development Goals and 15 targets; for the first time it assesses the Company's input in their achievement based on 2018 results.
The Report also describes investments in R&D projects related to environmental and industrial safety improvement, provides information on measures to reduce greenhouse gas emissions, and provides more details on water resources management and labor protection in accordance with the updated GRI standards. Following the principle of openness, the Company discloses new indicators, such as the share of eco-friendly products, renewable energy consumption, and tax payments in the countries of its presence.
Compliance of the Report with the requirements of the GRI Guidelines and the reliability of the presented information are confirmed by KPMG, one of the world's leading accounting firms. The document is also certified by the Council for Non-Financial Reporting of the Russian Union of Industrialists and Entrepreneurs.
The 2018 Sustainability Report will be presented both in the Russian and foreign regions of LUKOIL's presence, and is also available in the interactive Russian and English versions on the website.