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Press Release

LUKOIL STEPS UP IN THE CDP CLIMATE CHANGE RATING

LUKOIL has stepped up in the CDP (Carbon Disclosure Project) international climate change rating by one notch and entered the C List, which resulted from developing the Company's carbon management system.

In particular, in 2020 LUKOIL carried out inventory emission sources according to GHG Protocol as part of working out further objectives to reduce GHG emissions. This led to expansion of the operational and organizational accounting boundaries of emissions and their more comprehensive estimation. In addition, it was the first time when indirect GHG emissions were calculated (Scope 2 and 3).

As part of enhancement of management system for climate change issues, the Strategy, Investment and Sustainability Committee of the LUKOIL Board of Directors has changed its name and functionality. It was renamed into the Strategy, Investment, Sustainability and Climate Adaptation Committee, with its respective functions and responsibilities added to the updated Regulations on the Committee. Furthermore, a member of the Board of Directors responsible for climate change issues was appointed, and the Health, Safety and Environment Policy of LUKOIL Group in the 21st Century now includes the priority task of minimizing the impact of LUKOIL's operations on the climate.

  • Press release in PDF

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