About the Report
[GRI 102–1, 102–3, 102–5, 102–32, 102–46, 102–48, 102–49, 102–50, 102–51, 102–52, 102–53, 102–54, 102–56]
Public Joint-Stock Company Inter RAO UES [GRI 102–1]
PJSC Inter RAO was included in the list of strategic enterprises of the Russian Federation by Decree No. 1190 of the President of the Russian Federation dated September 30, 2010.
27 Bolshaya Pirogovskaya St., building 2, Moscow, Russia, 119435 [GRI 102–3]
Type of ownership
Mixed Russian ownership [GRI 102–5]
About this Report
This annual report of PJSC Inter RAO (the “Report”), which contains a Sustainable Development and Environmental Responsibility Report, was prepared for 2019 [GRI 102–50] based on an annual reporting cycle. [GRI 102–52] The previous annual report was released on April 19, 2019. [GRI 102–51]
The Report includes the performance results of PJSC Inter RAO and other companies that are part of the Inter RAO Group. Events after the reporting date are disclosed for the period until February 28, 2020.
The Report was prepared in accordance with GRI Standards (Core option) taking into account the recommendations of the Central Bank of the Russian Federation, the Federal Agency for State Property Management, and the Moscow Exchange. [GRI 102–54] The information presented in the Report has been confirmed by the Revision Commission, tentatively reviewed by the Board of Directors, and approved by the annual General Meeting of Shareholders of PJSC Inter RAO. [GRI 102–32] The appropriate reflection of the qualitative and quantitative information prepared in accordance with GRI Standards (sample information) has been verified in accordance with International Standard on Assurance Engagements (ISAE) 3000 (revised) ‘Assurance Engagements Other Than Audits or Reviews of Historical Financial Information.’ An independent auditor’s report on the results of the audit, which provides limited assurances regarding the sample information, is given in Appendix of this Report. The independent auditor was FBK Grant Thornton. The agreement with the audit organization was concluded after being tentatively reviewed by the Audit Committee of the Company’s Board of Directors. [GRI 102–56]
Scope of the Report
For the purposes of this Report, the Inter RAO Group refers to all the companies that comprise PJSC Inter RAO and its subsidiaries. The scope of information disclosed in the Annual Report corresponds to the scope of IFRS consolidated reporting. The largest subsidiaries as of December 31, 2019 are listed in Section ‘Company structure.’ There were no significant changes in the scale, structure, or ownership of the Group or the supply chain during the reporting period.
Basic terms and definitions
In this Report, the terms Inter RAO, the Group, and the Inter RAO Group in various forms refer to the Inter RAO Group. The term Company refers to PJSC Inter RAO.
What’s new in the Report
The restatement of indicators given in previous reports resulted in the following: Fuel consumption [GRI 302–1] for 2017-2019 was cited for the Group (data was only given for Russian assets in the 2018 report). Due to changes in the methodology used, the data for economic value generated and distributed for the year 2018 was recalculated. [GRI 102–48]
Based on all the available information, the management of PJSC Inter RAO confirms that this Report objectively reflects information about changes in and the results of the Group’s activities, its current position as well as the main risks and uncertainties associated with the Group’s operations.
The Report contains forward-looking statements concerning the production, financial, economic, and social indicators that describe the Company’s further development. The Company’s plans and intentions are directly related to the political, economic, social, and legal situation in the Russian Federation and around the world. In this regard, the actual results of the Company’s operations in the future may differ from the projected results.
Contact person for questions regarding this Report or its contents
Oleg Bocharov, Head of Shareholder and Securities Market Relations within the Corporate Relations and Antimonopoly Compliance Department. [GRI 102–53]
A survey of stakeholders was performedfor the first time in order to identify the material (relevant) topics of the Report. The survey encompassed 34 representatives of eight stakeholder groups who rated the level of importance of the proposed topics for the Company, its regions of operation, and the environment. The survey also involved ten representatives of Inter RAO management who are responsible for working with different groups of stakeholders. They were asked to evaluate the impact that Inter RAO had on each sustainable development topic. This survey resulted in the identification of eight key topics:
- The Company’s financial performance results (financial indicators) and factors that have a direct impact on the Company’s economic efficiency.
- Issues associated with ethics and integrity, combating corruption, and abuse in procurement activities.
- Compliance with environmental legislation and reducing the environmental impact of suppliers’ products.
- Quality of corporate governance.
- Reducing emissions of greenhouse gases and pollutants. Development of energy efficiency.
- Occupational health and safety.
- Ensuring reliable consumer access to electricity and heat.
- Resource conservation and efficient water use. Reducing discharges and waste.
Detailed information about stakeholder engagement during the process of identifying the Report’s guaranteed suppliers is presented in the Sustainable Development Report section. For the first time, the Report also includes a description of Inter RAO’s contribution to the achievement of four UN Sustainable Development Goals as well as the Group’s sustainable development management system. [GRI 102-49]
Approved by the Annual General Meeting of Shareholders of PJSC Inter RAO on May 19, 2020 (Minutes No. 20 dated May 20, 2020)
The accuracy of the data has been confirmed by the PJSC Inter RAO Revision Commission (opinion dated March 31, 2020).