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: +7 (495) 730 66 00 Phone: +7 (495) 228 15 32
n.minashin@sistema.ru kopytov@sistema.ru
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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(END) Dow Jones Newswires
December 21, 2020 03:30 ET (08:30 GMT)
