As part of United Nations SDG 17 "Partnership for Sustainable Development", the Company participates in a number or international initiatives and ratings dedicated to various aspects of sustainable development, including climate change.
“Zero Routine Gas Flaring by 2030” Initiative
The "Zero Routine Gas Flaring by 2030" initiative launched by the World Bank in 2015 brings together governments, oil companies and NGOs to increase the utilization of associated petroleum gas.
Companies joining the initiative commit to publicly report their gas flaring and progress towards achieving zero flaring by 2030 on an annual basis.
LUKOIL joined the initiative in 2017 and since then has been fulfilling its disclosure obligations every year. Respective data is available in the Sustainability Report and on the initiative's website.
CDP is a non-profit organization designed to improve the quality of non-financial reporting by companies, investors, cities, regions and states. As of 2021, more than 9600 companies all over the world use CDP tools for their disclosures.
Every year CDP reviews the quality of sustainability management for various aspects offering companies to disclose through questionnaires on such topics as Climate Change, Water Security and Forests.
The "Climate Change" questionnaire contains questions related to the implementation of the climate strategy, including the development of science-based goals to reduce GHG emissions, a system to manage various climate aspects, appraisal of climate change risks and opportunities, volumes of operated and non-operated GHG emissions and many other topics. LUKOIL has been participating in CDP's annual climate questionnaire since 2014. Completed questionnaires for each appraisal period are available on CDP's website.
- CDP Questionnaire 2021
Over the past seven years the Company has been voluntarily participating in WWF and Creon Group Rating of Environmental Transparency of Oil and Gas Companies and consistently improving its position in the rating year by year.
LUKOIL was ranked third among 18 Russian oil and gas companies in the annual rating of environmental performance leaving behind leading Russian companies. Since 2013, when LUKOIL ranked ninth, our rating has improved by 6 positions.
The environmental performance of the fuel and energy sector companies is assessed on the basis of such indicators as quality of environmental management, impact on the environment and disclosure of information.
- Memo on Biodiversity Conservation Activities of LUKOIL Group Entities in 2020
Position of the Company in Sustainability Ratings
In 2020 LUKOIL has considerably improved its positions in influential international and Russian sustainability rating. A special recognition was given to improvements in carbon management and development of anti-corruption practices.