LUKOIL ENHANCES ITS POSITIONS IN ESG RATINGS
Friday, December 11, 2020
LUKOIL has substantially enhanced its positions in acknowledged international ESG ratings in 2020. In particular, LUKOIL has stepped up in the Sustainalytics Risk rating from 25th to the 11th position among over 50 vertically integrated oil and gas companies participating in the rating. LUKOIL risk rating advanced by 9 points to 32.7. The SAM S&P agency (formerly RobecoSAM) upgraded LUKOIL rating by sixteen points at once to 46 points, which places LUKOIL ahead of the most of oil and gas companies. The ratings particularly emphasized improving carbon management and development of anticorruption practices in the Company.
LUKOIL progress in sustainable development area has also been positively assessed by several other internationally recognized ratings. For instance, the Institutional Shareholder Services Inc. agency (ISS) upgraded LUKOIL corporate sustainable development rating up to the level "C", positioning the Company ahead of the most of its peers in the oil and gas industry, while the disclosure quality rating was reiterated at the highest possible level 1. LUKOIL also received 3.7 scores out of 5 in the FTSE Russell international ESG rating, distinctly outperforming the industry average.
LUKOIL also enhanced its positions in the MSCI ESG Rating and the rating by Corporate Human Rights Benchmark (CHRB).
"LUKOIL entirely supports the sustainable development principles. We are pleased to know that our commitment to responsible business practices and adherence to the highest standards of information disclosure gained international recognition. We hope that the high assessment of our contribution to the development of communities which we also belong to, will benefit the Company's investment case and serve as a strong guide for responsible investors in their decision making," President of LUKOIL Vagit Alekperov said.