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Press Release

LUKOIL DEVELOPS CARBON MANAGEMENT SYSTEM

LUKOIL reports on the approval of the amendments to the Group's Health, Safety and Environmental Protection in the 21st Century Policy (the Policy) aimed at further development of the Company's carbon management system. The amendments were made pursuant to the resolution of the Company's Board of Directors to start developing further goals to reduce GHG emissions taking into consideration international best practices and economic feasibility.

The amended Policy includes the priority goal for minimizing the Company's impact on climate through application of the best available technologies, as well as obligations to continuously improve climate impact indicators and conduct assessment of risks of such impact at planning stage.

To accomplish this priority goal and meet obligations, the Company has already been working on improving its corporate GHG accounting and reporting system. As part of this work, the Company will conduct the inventory of direct and indirect GHG emissions under the GHG Protocol standard.

The Policy also reflects changes related to LUKOIL's shift to the new ISO 45001 occupational health and safety standard. In particular, according to the amended Policy the Company commits to hold consultations with the employees on industrial, fire, environmental and occupational safety, as well as prevention of and preparedness for emergency response issues.

The Policy is available on the Company's website.

  • Press release in PDF

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