DJ PhosAgro Strengthens Position Among Global Agricultural Chemicals Companies With Best ESG Risk Ratings From Sustainalytics
OJSC PhosAgro (PHOR)
PhosAgro Strengthens Position Among Global Agricultural Chemicals Companies
With Best ESG Risk Ratings From Sustainalytics
12-Nov-2020 / 15:13 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
For Immediate Release 12 November 2020
PhosAgro Strengthens Position Among Global Agricultural Chemicals Companies
With Best ESG Risk Ratings From Sustainalytics
Moscow - PhosAgro ("the Company", "the Group", MOEX, LSE: PHOR), one of the
world's leading vertically integrated phosphate-based fertilizer producers,
announces that following its annual review, ESG rating provider
Sustainalytics has considerably improved its assessment of PhosAgro: from
43.8 points to 26.9 points (medium risk).
With this new rating, PhosAgro has strengthened its leading position among
the best-rated companies in the global agricultural chemicals subindustry
according to Sustainalytics (the top 3[1] also include UPL with a rating of
26.2 and ICL Group with 33.3). It also places PhosAgro in top 15% best-rated
chemical companies worldwide.
Sustainalytics rated PhosAgro's management of ESG-related challenges as
"strong". The agency's assessment includes an analysis of the Company's
exposure to sustainability risks, as well as an analysis of the quality of
the Company's ESG programmes, practices and policies. The agency noted,
inter alia, considerable improvements in PhosAgro's climate-related
activities and management of its impacts on the environment. Human capital
management and adherence to high standards of business ethics and best
corporate governance practices were other important areas where strong
performance contributed to the major improvement in the Company's risk
rating.
Xavier Rolet, Chairman of PhosAgro's Board of Directors, said: "PhosAgro
continues to focus on implementation of its Strategy to 2025, which was
approved by the Board of Directors in 2019 following the successful early
achievement of all of the objectives in the previous development strategy.
The implementation of the Strategy to 2025 will further strengthen
PhosAgro's position as one of the most efficient producers in the industry
and as a leading producer of fertilizers that help grow more
environmentally-friendly agricultural products.
"I am happy to announce that the implementation of all strategic
initiatives, without exception, is on track despite the pandemic, including
in terms of sustainable development, aspects of which have historically been
the focus of PhosAgro's attention. In addition to improving its position in
the Sustainalytics ESG risk rating, MSCI ESG Research upgraded PhosAgro's
rating to BBB in August 2020. In October, the Company was once again awarded
the most prestigious business award in Russia: the Grand Prix at the Russian
Business Leaders: Dynamics and Responsibility awards held by the Russian
Union of Industrialists and Entrepreneurs. As the Chairman of the Board of
Directors, I highly appreciate this recognition of PhosAgro, and I am
confident that the management team led by CEO Andrey Guryev will continue to
make tangible progress."
Irina Bokova, Chair of the PhosAgro Board of Directors Committee on
Sustainable Development, noted: "Farmers in 102 countries around the world
use the Company's environmentally friendly fertilizers, which means PhosAgro
fertilizers play an important role in ensuring the safety of agricultural
products. That's why the aspiration to contribute to the achievement of the
SDGs was designated as a key priority of the Company's Development Strategy
to 2025. As of today, we are making direct contributions to the achievement
of 10 of the 17 SDGs.
"Earlier this year, the UN reaffirmed PhosAgro's Global Compact LEAD status,
which has been granted to only 41 companies worldwide. In addition, PhosAgro
supports the environmental initiatives of leading international and
industrial associations. In the context of the Company's extensive work in
the area of sustainable development, Sustainalytics' decision is a powerful
impetus for further improvement and clearly demonstrates that PhosAgro has
chosen the right path."
About the company
PhosAgro (www.phosagro.ru [1]) is one of the world's leading vertically
integrated phosphate-based fertilizer producers in terms of production
volumes of phosphate-based fertilizers and high-grade phosphate rock with a
P2O5 content of 39% and higher. PhosAgro's environmentally friendly
fertilizers stand out for their high efficiency, and they do not lead to the
contamination of soils with heavy metals.
The Company is the largest phosphate-based fertilizer producer in Europe (by
total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of
high-grade phosphate rock with a P2O5 content of 39%, a top-three producer
of MAP/DAP globally, one of the leading producers of feed phosphates (MCP)
in Europe, and the only producer in Russia, and Russia's only producer of
nepheline concentrate (according to the RAFP).
PhosAgro's main products include phosphate rock, more than 50 grades of
fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which
are used by customers in 102 countries spanning all of the world's inhabited
continents. The Company's priority markets outside of Russia and the CIS are
Latin America, Europe and Asia.
PhosAgro's shares are traded on the Moscow Exchange, and global depositary
receipts (GDRs) for shares trade on the London Stock Exchange (under the
ticker PHOR). Since 1 June 2016, the Company's GDRs have been included in
the MSCI Russia and MSCI Emerging Markets indexes.
More information about PhosAgro can be found on the website: www.phosagro.ru
[1].
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[1] Companies in the agrochemical sub-industry with a market capitalisation
of USD 4.3 billion to USD 5.9 billion
ISIN: US71922G2093
Category Code: MSCM
TIDM: PHOR
LEI Code: 25340053KRUNNYUWF472
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 87771
EQS News ID: 1147753
End of Announcement EQS News Service
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November 12, 2020 07:13 ET (12:13 GMT)
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