Eurasian Resources Group signs agreement to create ESG Alliance with Sber and other major companies

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Eurasian Resources Group a leading diversified natural resources group headquartered in Luxembourg, joined the first conference by Sberbank (Sber), Russia’s largest bank and a leading global financial institution, to establish the ESG Alliance. The Alliance will aim to facilitate the transition to sustainable economic development by strengthening environmental protection, supporting social development, and enabling business growth while reducing the consumption of natural resources.

At the signing ceremony for the agreement to create the Alliance, Benedikt Sobotka, CEO of ERG, said: “We are pleased that our long-term partnership with Sber has led to fruitful cooperation in a number of new areas. The Alliance’s mission of promoting a sustainable economic development model and cross-sector collaboration in the field of ESG is closely aligned with Eurasian Resources Group’s ESG goals. We look forward to working together and exchanging experience with Sber and other leading Russian and international peers in the ESG Alliance. This collaboration will be very useful for the development of individual industries and sectors, including mining and metals, and we support Sber’s initiative to form such an Alliance.”

Herman Gref, Sber CEO and Chairman of the Sberbank Executive Board, said: “As we discussed the issues of corporate social responsibility, transparent and impactful corporate governance and environmental protection, we came to understanding that leading companies needed to combine their efforts to drive this agenda in the country. We realized that we had to work on shaping regulatory frameworks, standards, and implementation control procedures, forming a new legislation that will stimulate all market participants to comply with ESG standards, and promoting the interests of Russia and Russian companies internationally. These are the key objectives that form the core of the ESG Alliance’s charter. The founding members of the Alliance currently include 28 companies, which are responsible for 10% of the Russian GDP and represent 18 sectors of the Russian economy. Membership in the Alliance is voluntary, and we encourage other companies to join it. I believe this initiative may lead to a useful and effective solution to promoting ESG agenda in Russia.”

“Signing this agreement to cooperate on the ESG Alliance is the latest development in the Group’s ESG-focused activities. Earlier this year, Eurasian Resources Group established a dedicated ESG Committee to better incorporate sustainability practices into the Group’s strategy and decision-making processes. In October, ERG became one of 57 global organisations to release a joint open letter calling on the European Union to act on ESG disclosure standards. The Group became the only representative of the metals and mining sector to sign that letter, as well as the only organisation from the CIS region,” added Mr Sobotka.

 Alongside Sber and Eurasian Resources Group, top managers of the following companies joined the conference: Avtoban, AFK Sistema, Gazprom Neft, EuroChem, Kolmar Group, Metalloinvest, Uralchem, Polyus, Prosveshcheniye, RUSAL, R-Pharm, SIBUR Holding, Solar Systems, SUEK, T Plus,  TechnoNICOL, Transmashholding, Delo holding company, Uralkali, Pharmstandard, Unilever Rus, En+ Group, Mercury Retail Holding, PLC O1 Properties, Vos’hod Development, X5 Group.

 The ESG Alliance will act as a platform for stakeholders from across industry, government and civil society to exchange dialogue, share knowledge and expertise, and develop and promote new standards in the field of ESG. This includes setting out improved industry guidelines, forming a common framework for assessment and reporting in this area, and rolling out joint programmes to achieve sustainable development goals and investment in innovative projects focused on ESG transformation.

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