Rational Approach - 2017

Rational Approach – 2017

CREON Group of Companies and WWF Russia with participation of the National Rating Agency (NRA) and the UNDP/GEF-Ministry of Natural Resources and Environment of Russia project presented the results of the Environmental Responsibility Rating of Oil and Gas companies in Russia for the fourth time.

The announcement ceremony of the results of the Environmental Responsibility Rating of Oil and Gas Companies (as part of the Rational Approach project) was held on November 30 at the hotel Baltschug Kempinski, Moscow. The project has been implemented by CREON Group of Companies and WWF Russia, with participation of the Ministry of Natural Resources and Environment of Russia (UNDP/GEF project) and the Ministry of Energy of Russia. The rating calculation was carried out by the National Rating Agency following the suit of the previous years. Partners of 2017 rating included CREON Capital S.a.r.l. and AIG.

Once again, Sakhalin Energy topped the rating, while Exxon Neftegas and Surgutneftegas took second and third places respectively. Based on 2014-2017 ratings results, the following companies were awarded honorary diplomas: Zarubezhneft – for the dynamic growth of rating indicators; Rosneft – for stable reduction in the environmental impact; Exxon Neftegas – for positive transparency dynamics, and LUKOIL – for RES development in Russian oil and gas industry.

The announcement ceremony of the rating results was opened by the head of CREON Group of Companies, Fares Kilzie: “Four years ago we initiated the Rational Approach project, with the Environmental Responsibility Rating held jointly with WWF Russia as its flagship. The project turned out to be very topical, and now it is going international: in December we will organize an environmental conference in Berlin, where experience of Russian companies will be showcased to the European community. Thanks to the efforts of our long-time partner, WWF Russia, our next project, the Environmental Responsibility Rating of Oil and Gas Companies in Kazakhstan, has been launched with results to be announced in Astana in February 2018. CREON Group of Companies will continue its efforts to implement the Rational Approach project both in Russia and internationally, for one of our main goals is to consolidate the positive image of Russian oil and gas business in the eyes of the world community.”

“Interacting with experts from environmental organizations and oil and gas companies for four years, we have managed to develop a set of criteria for the rating calculation, which provides objective information about the companies’ environmental responsibility. In 2017 we have applied this experience to organize a similar rating for mining and metallurgical companies, while next year we are planning to calculate the rating for electricity generating companies”, – said Alexei Knizhnikov, head of the WWF Russia Program on Environmental Policy of the Fuel and Energy Complex.

The event was held as part of the Year of Ecology in Russia, the purpose of which is to draw public attention to the country’s environmental development, preservation of biodiversity and providing environmental safety.

The rating is announced annually since 2014 to obtain objective and comparable information concerning the level of impact of domestic oil and gas companies on the environment. The public nature of the rating contributes to improving the environmental risk management quality and reducing impacts in the oil and gas industry. The rating consists of three sections: environmental management, environmental impact and information disclosure. In 2017 the number of changes and additions has been introduced to the rating methodology, in particular, the criterion of the share of high-ecological fuel was removed, since all companies participating in the rating have brought this share to almost 100% in recent years. Several new criteria have been tried out in test mode:

a) assessing the company’s programs to enhance oil recovery factor;

b) assessing the company’s scientific research and technologies of renewable energy production;

c) reflecting the conduct and analysis of oil spill response operations;

d) showing the public availability of operational environmental monitoring reports.

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