Alrosa has released its annual Sustainability Report, which reflects a holistic approach to the implementation of responsibility principles and details the company’s and subsidiaries’ performance in terms of economic efficiency, human capital development, environmental protection, regional development, and corporate governance for the period 2018-2020.
The report was written in compliance with the GRI Standards (Core option) and passed PricewaterhouseCoopers Audit’s independent assurance. Alrosa also released details on their commitment to and compliance with the UN Global Compact’s ten principles, which it adopted in 2021.
Alrosa made significant efforts to strengthen its data gathering and disclosure systems as part of the production of its tenth Sustainability Report. Following a careful review of stakeholder needs, including investors and rating agencies, the company expanded the reporting scope by include data from its mining and polishing operations and enhanced ESG disclosures. Alrosa also cut the time it took to write the report in half and took into account the suggestions of the world’s leading sustainability standards and guidelines, including the TCFD. Alrosa’s contribution to accomplishing the UN Sustainable Development Goals (SDGs), which serve as a strategic foundation for the sustainable approach, was given special emphasis. A thorough examination has resulted in the identification of 13 high-priority and high-importance SDGs for the company to focus on in the future.
The report not only examines the major performance indicators and initiatives in terms of their long-term viability, but also lays out plans for the company’s future growth. A second part discusses the company’s approach to the coronavirus pandemic’s issues.
“The Sustainability Report for 2020 is Alrosa’s tenth. This confirms the company’s commitment to openness and transparency for all stakeholders, as well as its continued engagement on strengthening the market positions and achieving sustainable development goals. Creation of conditions and opportunities for regional development, employment of people from local communities, respect of human rights and gender equality principles, careful and rational use of natural resources are all among our key focus areas. Despite the challenges faced in 2020, we continued our journey towards sustainable development and provided immediate assistance to the local communities by investing over RUB 1 billion in anti-Covid-19 initiatives and offering the regional healthcare system a significant sponsorship package,” said Sergey Ivanov, Alrosa’s CEO.
Alrosa has been committed to sustainable development and has adopted several social and environmental projects since its inception. The company’s accomplishments have been recognised by the FTSE4Good, MSCI ESG, WWF Russia, Sustainalytics, and ISS ESG ratings. The corporation became a member of the UN Global Compact in 2021.