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The calculation of environmental transparency ratings has started

08 september 2021
Calculations of all three industrial ratings in 2021 started simultaneously. This year there are 83 Russian mining and metals and power generating companies in total will participate. For the first time rating will be compiled by the company ACRA RM. The degree of openness of each research participant will be assessed according to 30 criteria, special attention will be paid to the efforts on climate risks and renewable energy sources (RES)

“Energy transition is becoming an increasingly topical issue for our country as well,” says Alexey Knizhnikov, Head of the WWF-Russia Program on Business Environmental Responsibility. - The companies of the three industries evaluated in the ratings make the main contribution to the GDP of our country and, unfortunately, create the major burden on the environment, including being one of the largest emitters of greenhouse gases - the main cause of climate change. The energy transition will cause serious changes in the economy, it is now very important to find solutions that will allow this transition to be carried out without losses. Our industry rankings will follow this direction more and more.”

This year serious attention will be paid to the companies’ efforts on climate change adaptation and their work on energy management, as well as the development of the renewable energy sector. If last year the assessment for taking into account climate risks was given in a test mode for the oil and gas companies rating (OGC), then this year the criterion has moved into the category of the main ones. The changes also affected the evaluation of work with renewable energy sources, last year it was evaluated quantitatively, and this time - qualitatively. This change affected the Oil and gas and Mining and metal companies ratings. The rating of power generating companies includes a new criterion for evaluating the energy management system of companies.

“The current ESG-agenda for the transformation of the Russian economy and fuel and energy complex creates new challenges for companies in the industry to provide effective and transparent non-financial reporting that gives an idea of ​​the company’s impact on the environment and allows assessing the corresponding climate risks. Compiling a rating of environmental transparency of the companies of the complex will help increase their openness in terms of climate impact, which will have a positive effect on the current tasks of the energy transition of the industry,” commented Alexei Mukhin, General Director of ACRA Risk Management.

The first rating of transparency of environmental information was initiated by WWF Russia and CREON Group in 2014 for companies of the oil and gas sector. Since then, the rating has been released annually, and starting from 2019, the Eurasian rating has been added to the traditional rating of transparency of environmental information of Russian oil and gas companies, in which oil and gas enterprises of Kazakhstan and Azerbaijan participate together with Russian companies.

In 2016, the rating of transparency of environmental information for mining and metal companies has been launched, since 2019 - the rating of power generating companies issued annualy. Also, starting from 2019, all three ratings have become the part of the People for Nature project, implemented by WWF-Russia with the support of the European Union.

Updated methodologies can be viewed in the attached files. Presentations of the results of the ratings of transparency of environmental information are scheduled for December 2021 in Moscow.

Photo credits: © WWF-Russia / Oleg Maramzin