
The Company has a system and organizational structure in place that are used to manage sustainability issues and ESG factors, and cover every level of governance, from Board of Directors to heads of the LUKOIL Group entities. In managing sustainability, we seek to abide by the guidelines of the World Business Council for Sustainable Development and the UN Sustainable Development goals.
Strategically, the trend is set by the Board of Directors, Committee of Strategy, Investment, Sustainable Development, and Climate Adaptation within the Board of Directors, President and Management Committee of PJSC LUKOIL. The Corporate Secretary and Task Forces actively work with the Board of Directors and its subcommittees on the subject. The Board of Directors of PJSC LUKOIL plays a key role in working out the strategy and initiatives of the Company in regard to sustainable development, climate change and ESG factors.
Operationally, performance reviews and generation of proposals are the responsibility of the Health, Safety, and Environment (HSE) Committee of PJSC LUKOIL, Task Forces, heads of the business units of PJSC LUKOIL, and heads of the Group's entities.
HSE Committee of PJSC LUKOIL The Committee meets two times a year. At its first meeting, it reviews registries of material HSE risks and environmental aspects, as well as legislative changes in the countries of presence, and keeps track of such factors during the development and implementation of target programs. The second meeting is held to recap on the health, safety, and environment programs taking place in the reporting year, and schedule future activities.
The Sustainable Development Task Force was established to address issues involving various sustainability and reporting aspects.
The Decarbonization and Climate Change Adaptation Task Force was established to address practical implementation of the climate strategy.
Sustainability Management System
TIER OF MANAGEMENT | Main functions |
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Strategy, Investment, Sustainability and Climate Adaptation Committee
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Audit Committee of the Board of Directors
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Human Resources and Compensation Committee |
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Management Committee |
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HSE Committee of PJSC LUKOIL |
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Executives in Charge of Sustainability
Executive in charge of climate change |
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Executive in charge of sustainability
| Organizing and coordinating:
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Corporate Secretary of PJSC LUKOIL
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Sustainability Work Groups
Sustainability Work Group Group Leader |
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Decarbonization and Climate Adaptation Work Group Group Leader |
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Information as of May 2021.