AK&M rating agency has confirmed the highest level of rating of LUKOIL Group's non-financial (in the field of sustainable development) reporting. For the second year in a row, the AK&M rating agency assigns the rating of LUKOIL Group's non–financial statements at the RESG 1 level - the highest level of disclosure of information about sustainable development in reports.
In accordance with the agency's methodology, LUKOIL Group's reporting for 2023 received 96.0 points and was assigned to the highest level. This rating is assigned to companies that have received a rating score in the range from 85 to 106.6.
LUKOIL Group remains committed to the concept of sustainable development and pursues a consistent policy of comprehensive disclosure of information about its ESG activities. One of the largest Russian oil companies has been publishing a specialized sustainability report for twenty years. The report is accompanied by detailed dynamic data in tabular form. All indicators are presented in a historical retrospective for five years, including indicators that correspond to the methodological recommendations for the preparation of sustainable development reports. The rating agency emphasizes the quality and completeness of environmental data disclosure. Each aspect of the environmental impact is disclosed in detail both in quantitative terms and in the description of the impacts, the management system, risk reduction projects, as well as the successes achieved.
The report analyzes the main social and environmental external impacts of the company's activities in relation to quantitative results over 5 years, which confirm the fulfillment of corporate goals in accordance with the LUKOIL Group's policy in the field of sustainable development.
Information on the company's actions to adapt to climate change has been expanded: the information is broken down by federal districts, taking into account the observed climate changes in these territories.
An updated format for presenting data on charitable projects has been used: information is provided by federal districts indicating the scale of the company's activities.
For the first time, the topic of interaction with gas station customers and partners within the framework of the company's public initiatives in the field of climate and ecology was reflected.
The report includes social cases that reflect the stories of individual employees and their families (the formation of working dynasties, the arrival of participants in LUKOIL's social programs to the company).
Appreciating the quality and completeness of the report, the AK&M rating agency maintains its recommendation to highlight the group's contribution to the development of small and medium-sized businesses in the report.
The rating of non-financial reporting was assigned based on the methodology adopted by the AK&M rating agency.
The rating evaluates the completeness of the data presented in the reports. A system of markers for the presence or absence of data is used for evaluation. The rating was assigned by the agency on an initiative basis based on an analysis of the company's financial statements.
The ESG reporting rating has been calculated by the AK&M rating agency since 2020. The focus of the research is the completeness of the presentation of information about sustainable development in reports, as well as its accessibility. The study examines 96 markers. The main purpose of the rating is to show the professional community the best practices in disclosing information about the social and environmental activities of companies.
