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OJSC PhosAgro (PHOR)
For Immediate Release
MSCI ESG Research Affirms PhosAgro's Sustainability Rating of BBB
Moscow - PhosAgro ("Company", "Group", MOEX, LSE: PHOR), one of the world's leading vertically integrated phosphate-based fertilizer producers, announces that, as part of a regular review, MSCI ESG Research has affirmed the Company's sustainability rating of BBB (on a scale from AAA to CCC, where AAA is the top rating).
MSCI ESG Research assigns ratings to global publicly traded companies and a range of private companies, assessing their environmental, social and governance (ESG) risks and their ability to manage those risks relative to peers. Detailed information on MSCI ESG ratings is available here.
PhosAgro's rating is one of the highest that MSCI has assigned to Russia's largest companies.
"We are pleased that MSCI ESG Research has once again lauded the results of our sustainability efforts. Sustainable development is, to a great extent, integrated into PhosAgro's strategy: we pay a great deal of attention to addressing the social and environmental challenges facing us and society as a whole.
"Last year, we made considerable progress towards our global ESG goals: PhosAgro's Board of Directors approved climate and water strategies and adopted a low-carbon transition plan, which includes measures to reduce our own emissions and emissions in the value chain, as well as to improve the energy efficiency of the Company's production facilities and other infrastructure. This and our other decisions prove that the Company's approach to sustainable development is focussed and systematic and, as a result, is having the desired effect," said Andrey Guryev, PhosAgro's CEO and a member of the Company's Board of Directors.
PhosAgro is a recognised leader in sustainable development. In 2020, the Company affirmed its LEAD status in the UN Global Compact. Earlier, Sustainalytics upgraded PhosAgro's ESG rating from 43.5 to 26.9, which is one of the best ESG risk management ratings in the Russian market. CDP, a research firm in the area of climate responsibility metrics, upgraded PhosAgro's rating from C to B-. In a rating by Institutional Investor, PhosAgro was ranked first in six categories, including Environmental, Social and Management Responsibility Metrics.
PhosAgro (www.phosagro.com) 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 over 100 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.
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EQS News Service