Following the annual update of the ESG rating provided by RAEX rating agency, Polyus was upgraded from A to AA.
Polyus climbed from ninth to second place in the January ranking of Russian companies, making it one of the top two Russian companies out of 160 covered by the RAEX ranking in terms of the business ESG maturity.
The score for the three main ESG factors (Environmental, Social and Governance) is used as the basis for the consolidated indicator.
Polyus ranked first for the E component, mainly due to a 100% transition to renewable energy. This was achieved through the transition to supply from hydroelectric power plants and the purchase of green I-REC certificates.
The rating methodology involves ranking companies by each of the three ESG components, which are assigned scores based on the following:
- Availability of related corporate practices and programs. Do they cover key risks, specify goals and timelines?
- Reporting (completeness, consistency, whether reporting is verified).
- The Company’s efficiency and performance that affects risk mitigation.
Victor Drozdov, Director Communications & Investor Relations (CIR) Department, member of the Board of Directors, commented:
Polyus is constantly improving its risk assessment and management practices as well as its disclosed non-financial reporting. In 2021-2022, we focused on climate change, decarbonization, water management, TSF safety and the assessment of human-rights risks; as a result, we confirmed and upgraded the Company’s position in key ESG ratings. We are grateful to RAEX for the high rating.
To see the full RAEX ESG ranking results for Russian companies, follow the link.
Polyus is the world’s fourth-largest gold mining company by production volumes and the largest gold miner in terms of attributable gold Ore Reserves. The company demonstrates the lowest production costs among major global gold producers. Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).
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Forward looking statements
This announcement may contain "forward-looking statements" concerning Polyus and/or Polyus group. Generally, the words "will", "may", "should", "could", "would", "can", "continue", "opportunity", "believes", "expects", "intends", "anticipates", "estimates" or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of "Polyus’ " and/or "Polyus group’s operations. Many of these risks and uncertainties relate to factors that are beyond Polyus’ and/"or Polyus group’s ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.
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