Sistema PJSFC: Sistema adopts responsible investment approach

DJ Sistema PJSFC: Sistema adopts responsible investment approach

Sistema PJSFC (SSA) 
Sistema PJSFC: Sistema adopts responsible investment approach 
 
21-Dec-2020 / 11:30 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
      Sistema adopts responsible investment approach 
 
    Moscow, 21 December 2020 - Sistema PJSFC (hereinafter, "Sistema" or "the 
 Corporation") (LSE: SSA; MOEX: AFKS), a publicly-traded diversified holding 
  company, announces that its Board of Directors has approved an updated set 
   of investment criteria as part of a review of the Corporation's strategy. 
    Among other things, the revised criteria will integrate ESG factors that 
 reflect Sistema's corporate responsibility principles and international ESG 
       standards into the investment process for the first time, solidifying 
            Sistema's strategic approach to responsible investment. 
 
     At the portfolio building stage, Sistema excludes "sin stocks" (such as 
          tobacco, gambling and others) and will consider the ESG profile of 
acquisition targets in other industries when making investment decisions. To 
     that end, the Corporation will evaluate targets' governance systems and 
      environmental and social performance as part of due diligence process. 
 
         At the asset management stage, the Corporation establishes baseline 
      requirements for sustainability management in portfolio companies, and 
  actively engages with them to improve their risk management practices, ESG 
            performance and reporting. 
 
     Artyom Zasursky, Sistema's Vice President for Strategy and Development, 
            said: 
 
   "As a major investor in the Russian economy, we see our role in nurturing 
responsible, competitive, and self-sustaining businesses. The integration of 
ESG principles into our business model is the logical next step. Amid market 
       uncertainty and changing business needs, we are aiming to enhance the 
        sustainability of our investment portfolio through the management of 
non-financial risks and the implementation of best practices in the areas of 
            corporate governance, social and environmental responsibility". 
 
 Earlier, Sistema signed an agreement with Sberbank to open a RUB 10 billion 
framework credit line, with the option to tie the interest rate on each loan 
        to sustainability performance (Sustainability Improvement Loan). The 
integration of responsible investment principles into the investment process 
            is one of the KPIs set by the agreement. For more details see 
            https://sistema.com/sustainable-development [1]. 
 
      *** 
 
      Sistema PJSFC is a publicly-traded diversified Russian holding company 
    serving over 150 million customers in the sectors of telecommunications, 
      high technology, banking, retail, timber processing, agriculture, real 
   estate, tourism and healthcare services. The company was founded in 1993. 
Its revenue in 2019 reached RUB 656.9bn; its total assets equalled RUB 1.3tn 
     as of 31 December 2019. Sistema's global depositary receipts are listed 
     under the "SSA" ticker on the London Stock Exchange. Sistema's ordinary 
   shares are listed under the "AFKS" ticker on the Moscow Exchange. Website 
            www.sistema.ru [2]. 
 
      *** 
 
Investor Relations Nikolay Minashin Press Service Sergey Kopytov 
 
Phone: [phone]           Phone: [phone] 
 
[e-mail]               [e-mail] 
 
ISIN:          US48122U2042 
Category Code: MSCM 
TIDM:          SSA 
LEI Code:      213800JSZ2UUK4QQK694 
Sequence No.:  90027 
EQS News ID:   1156552 
 
End of Announcement EQS News Service 
 
 
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2: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=e8a7c86d39c0eaff5de6e8773a8b2da0&application_id=1156552&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

December 21, 2020 03:30 ET (08:30 GMT)