The Rational Approach Rating assesses the environmental transparency of the Eurasian oil and gas companies with the mission to act responsibly and to use hydrocarbon resources more efficiently, as well as to implement international ESG standards in the entire value chain.
The rating is calculated for all production segments (upstream, midstream, downstream), covering companies with an annual production volume of more than 1.5 million tons (97% of oil and gas production and processing in Eurasia). All calculation is based on open data.
The methodology covers all activities of the big oil and gas in three areas: environmental management, environmental impact and disclosure of information. More than 30 rating criteria meet the international standards of non-financial reporting GRI and environmental management ISO 14001.
The project has been implemented by CREON Group together with WWF Russia since 2014 with the support of the European Union and the United Nations Environment Programme. Since 2021, general partner for rating calculation is the Russian rating agency ACRA.
Achievements:
More about the methodology of the rating you can read here.
On April 16, 2021, Russian International Affairs Council (RIAC) and CREON Group hosted an international expert seminar on “Prospects for cooperation between Russia and the EU in the ecology sphere”.
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Fares Kilzie, Head of Creon Group, about the mission of the Common Sense Project
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Alexey Knizhnikov, Business Environmental Responsibility Program Manager WWF Russia
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Every year, around 6.5 billion kilograms of garbage are thrown into the oceans. Most of this junk is plastic.
Due to such harmful human activities, about a million seabirds and 100 million marine inhabitants die annually.
Cars pollute the environment very much. There are about 500 million vehicles in the world today. Scientists predict their number will increase to 1 billion by 2030. This means that the state of the environment will deteriorate at least 2 times.
According to the World Bank, every year humanity produces just over 2 billion tons of municipal solid waste (MSW). By 2050, this figure threatens to grow to 3.4 billion tons. Russia contribute 60 to 70 million tons every year.
Leading Russian advisory and investment group working in oil & gas, petrochemical and related industries in Russia and the CIS.
CREON Group mission is to promote the dynamic development of Russian and the CIS countries petrochemical industry and to assist oil & gas and petrochemical companies in improving the business performance.
One of the largest national nature conservation organizations, WWF Russia is a part of international WWF network that unites around 5 million supporters and operates in over than 100 countries of the world.
WWF mission is to prevent the growing degradation of the natural planet environment and to achieve harmony between man and nature. The main goals of the organization are to conserve biodiversity and decrease ecological footprint.
The managing company and unlimited partner of Direct Investment Fund (total volume over 100 million euro) CREON Energy Fund SICAV-SIF, established in 2016 and focused on investments in projects of chemical sector at the primary stage, growing and developed companies in Russia and CIS countries, as well as in ecological projects of green economy and alternative energy.
The Analytical Credit Rating Agency (ACRA) was founded on November 20, 2015 and was the first credit rating agency to be registered by the Central Bank of the Russian Federation in accordance with new legislation. The Agency assigns credit ratings on the national and international scale to all key categories of issuers and issues. ACRA also provides a wide range of sustainable development services, including ESG assessments, and valuation of green, social and sustainable development bonds and loans. VEB.RF and the International Capital Market Association (ICMA) have recognized ACRA as an independent verifier of green bonds.
Un Environment is the leading global environmental authority that sets the global environmental agenda, promotes the coherent implementation of the environmental dimension of sustainable development within the United Nations system, and serves as an authoritative advocate for the global environment.
Our mission is to provide leadership and encourage partnership in caring for the environment by inspiring, informing, and enabling nations and peoples to improve their quality of life without compromising that of future generations.