PhosAgro PJSC: Sustainalytics Gives PhosAgro Highest ESG Rating in Global Agrochemical Sector News Nation USAPhosAgro PJSC: Sustainalytics Gives PhosAgro Highest ESG Rating in Global Agrochemical Sector News Nation USA
Impact Investing Forum 2023
London. May 04-05, 2023.
For Immediate Release
17 December 2021
Sustainalytics Gives PhosAgro Highest ESG Rating in Global Agrochemical Sector
Moscow – The ESG rating agency Sustainalytics has revised PhosAgro’s ESG risk rating significantly upwards from 27.3 to 22.8. This revision was made as part of the agency’s annual ESG risk assessment update. The new rating places PhosAgro among the world’s top 30 chemical companies and it is the best result among global agrochemical producers.
Sustainalytics rated PhosAgro’s ESG management as “strong”. The agency’s assessment includes an analysis of the company’s exposure to sustainability risks, as well as an analysis of the quality of its ESG programmes, practices and policies.
Earlier this year, the United Nations confirmed PhosAgro’s Global Compact LEAD status, an honour held by only 37 organisations in the world. In addition, PhosAgro supports the environmental initiatives of leading international and industry associations.
In addition, PhosAgro has significantly improved its position in other leading international and Russian sustainability ratings:
CDP upgraded PhosAgro’s climate change score from B- to B, and its water security score from F to C;
MSCI ESG Research highlighted the Company’s leadership position and confirmed its A rating (on a scale from CCC to AAA, where AAA is the highest possible score);
These ratings confirm PhosAgro’s leading role both among Russian companies and globally. For example, Sustainalytics ranked PhosAgro the best among global agrochemical companies and the second best among all Russian industrial companies.
PhosAgro CEO Andrey Guryev said: “We are very proud that Sustainalytics, CDP and MSCI ESG Research have recognised our efforts by upgrading and confirming our ESG ratings, which is a meaningful reflection of our status as leader in sustainability practices.
“It is particularly important for us to be an ESG industry leader according to Sustainalytics. Against the backdrop of the extensive work undertaken by PhosAgro, Sustainalytics’s decision is the best confirmation that we are on the right track and a powerful impetus for further improvement.
“Separately, MSCI ESG Research recently increased the geographic and sector risk profile of our company, making the assessment criteria more stringent and thus confirming that our high rating is even more valuable and meaningful. ESG principles underpin our business. We produce eco-efficient fertilizers that do not contain concentrations of cadmium and other heavy metals that are hazardous for human health and soils and we supply Russian farmers with high-quality fertilizers, helping to guarantee the safety of agricultural products grown under the national Green Standard.
“This year PhosAgro celebrates its 20th anniversary, and I am proud to note that throughout its history, the Company has taken great care to comply with, promote and develop sustainability practices in both our business and the market as a whole. And I am confident that we will continue on this path, as ESG principles are thoroughly integrated into our business model and Strategy 2025.”
Andrey Serov, Head of the Investor Relations Department
+7 495 231 2747 ext. 2183
Timur Belov, Press Officer
+7 495 231 2747 ext. 2652
+44 207 002 7859
PhosAgro (www.phosagro.ru) 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 102 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.
More information about PhosAgro can be found on the website: www.phosagro.ru.
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