RU
EFKO among Top-Ranked Companies in RBC's ESG Rating 2 November 2022
Results of a study by RBC and National Credit Ratings

RBC and the National Credit Ratings agency have published the results of their first extensive comparative study of ESG practices of Russian companies from various sectors of the economy.

EFKO was among the top-ranked companies with the highest ESG index. Also in the leading group were Gazprom, AFK Sistema, Sberbank, and Tinkoff Bank. In total, about 30 companies out of 115 participants were in the study.

The index was based on three groups of factors: environment, corporate governance, and the social sector. For example, the size of investment in environmental technologies and the environmental friendliness of operations fall in the first group; opportunities for professional growth, charity, and support for social projects fall in the second group; implementation of regulations to prevent conflict of interest, and anti-corruption practices fall in the third group. There are over 20 indicators in total.

The organisers say most participants received good marks for the social and governance components. This shows a high level of corporate governance among leading Russian companies.

However, for most companies, the environmental component has only just been introduced. In particular, the availability of a "green" loan or investment portfolio played a key role in the final rating.

“Only a few were able to create such a portfolio. For the rest of the players, this work is still in the early stage,” explains Andrey Piskunov, Managing Director at National Credit Ratings.


EFKO Executive Director Sergey Ivanov
EFKO is a major food manufacturer, the largest in Russia. And it is the fastest-growing company in the industry over the past three years. More than two million tons a year. Eighteen thousand employees. Sixteen factories. Two hundred and thirty billion roubles in revenue. Nearly 40% of exports. However, these figures do not impress us very much because, honestly, these are figures of business of the past. The food industry is no longer a safe haven. And if we do not start changing, there will be none of this in 15-20 years. New start-ups with ground-breaking alternative food technologies will come along and push companies like EFKO aside.

For four years, we have been investing almost everything we earn in projects that improve the quality of people's lives, are environmentally friendly, and are affordable for everyone. We sell what we don't need and invest here. We look for partners and come up with new ideas together. That's how we got into plant-based meat and milk, dietary fibre, sweet proteins, fats from microorganisms, and cellular nutrition”.

FOR REFERENCE
EFKO's ESG concept is articulated in the company's corporate blog at VС.RU.

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