Analytical Credit Rating Agency (ACRA) has assigned ESG-2, category ESG-B to Polyus PJSC ("Polyus", or the "Company"), which corresponds to a very high rating in the field of the environment, social responsibility and governance. According to the methodology, this indicates that the Company pays increased attention to these matters.
The methodology is based on ranking and comparing the Company to a sample of industry peers. The key drivers behind Polyus’ high rating were:
- low indicators for energy consumption, water consumption and wastewater discharge per unit of revenue in monetary terms,
- a reduction of more than 40% for specific indicators (waste generation, energy consumption, wastewater discharges, emissions of harmful substances and greenhouse gas emissions) over the past three years,
- 93% of water recycled and reused and 100% of electricity from renewable sources,
- disclosure of Scope 3 GHG emissions and publication of the Climate Strategy,
- considerable social investments and a substantial contribution by the Company to the social development of its regions of operation,
- low level of injuries and the availability of automated safety systems,
- highly elaborated and detailed procedures for occupational health and safety, human rights protection and HR management,
- high information transparency, high level of disclosure of non-financial statements and high-quality strategic planning,
- availability of a code of corporate conduct, disclosure of risks in annual corporate reports, clear role and responsibilities of the Internal Audit,
- effective management of stakeholder relations, feedback systems and external communication in place with relevant parties.
ACRA particularly noted the policies and procedures for managing industry ESG risks as well as the high level of compliance with best practices.
Victor Drozdov, Director Communications & Investor Relations (CIR) Department, member of the Board of Directors, commented:
In 2022, there were no substantial changes in Polyus’ ESG practices, but they were expanded. We continue to seek a balance between all three components, and our comprehensive approach is positively rated by experts. We are grateful to ACRA for giving our business a high rating.
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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