FIFTH RATING OF ENVIRONMENTAL OPENNESS OF RUSSIAN OIL AND GAS COMPANIES IS UNDERWAY
The organizers use solely information located in the public space, helping not only to improve the environmental performance, but also to increase the transparency of the Russian oil and gas sector.
"Our rating turned out to be an effective and demanded tool to make the country's fuel and energy complex green," says Alexei Knizhnikov, head of the WWF Russia program on the FEC environmental policy. - The success of the Russian rating allowed us to implement a similar project in Kazakhstan since 2017. In parallel, we are preparing to rate the world’s leading oil and gas companies. "
Fares Kilzie, head of Creon Capital, notes: "For many years, CREON group has been contributing to developing the Russian fuel and energy complex, and we are infinitely glad that one of our key projects is celebrating its fifth anniversary. We see great prospects in the oil and gas sector greening and we bring investments in projects with an environmental component, such as a deep processing of APG or the alternative use of LNG instead of fuel oil for the navigation in the Arctic. The financial models that we examined repeatedly prove the prospects and profitability of similar green economy projects. We have been and will continue supporting the initiatives of our partners from WWF Russia and we call on the world energy community to invest together in the sustainable development. "
One of the basic principles of the rating is to adjust the methodology annually and to discuss it openly with all interested parties. Therefore, on May 18, 2018 at a meeting with oil and gas companies, proposals on improving the methodology were discussed, and a number of changes were introduced. Thus, the description of the algorithm to assess criteria 3.5 (informing about accidents) and 3.6 (informing about controversial environmental situations) has been included in the Rating Structure section. Besides, in the case of a confirmed human rights violation on the part of the company, there has been introduced a possibility to apply penalties.
The criterion assessing a company's program to increase the oil recovery index has been included in the Environmental Management and Policy section. Two criteria assessing the availability of data in sections 1 and 2 have been removed from the Information Disclosure and Transparency section. While there have been added the criteria assessing the involvement of the public concerned in conducting and analyzing a company's drills regarding oil spill contingency plans, as well as the availability of the industrial environmental monitoring results. In 2018 the criterion assessing the proportion and length of pipelines exceeding standard service life operated by a company will be included in the rating on a test mode.
The rating results will be announced on November 30, 2018 in the Analytical Center under the Government of the Russian Federation.
Official website of the project: www.zs-rating.ru.