Core principles of sustainable development and social responsibility [GRI 102-12]
Inter RAO Group carries out its activities in accordance with generally accepted business standards and strives to comply with best international standards in corporate social responsibility and sustainable development.
Social responsibilityAccording to GOST R ISO 26000-2012 “Social responsibility: An organization’s responsibility for the impact of its decisions and activities on society and the environment through transparent and ethical behavior, which: • Contributes to sustainable development, including the health and wellbeing of society
• Takes into account the expectations of stakeholders
• Complies with applicable law and is consistent with international standards of conduct
• Is integrated into the activities of the entire organization and applied in its relationships.” is one of the key principles of corporate governance at the Inter RAO Group and plays an important role in all stages of preparing and adopting management decisions. This principle aims to satisfy the needs of all stakeholders for the Group’s comprehensive economic, social, and environmental development, which should meet the demands of the present and not jeopardize the opportunities and aspirations of future generations.
The Group’s corporate social responsibility activities are systematic and result-oriented. The Company not only cares about protecting the environment and providing financial assistance to certain categories of citizens and institutions, but is also building a system in which all activities become as effective as possible.
Inter RAO adheres to the following principles in matters concerning sustainable development:
- Enhancing economic efficiency in the interests of shareholders
- Responsibility for the quality, reliability, and safety of operations
- Taking into account the public’s needs when compiling the business development strategy
- Promoting the sustainable functioning of the economy and social sector in the regions where the Company operates
- Promoting the development and dissemination of efficient, eco-friendly, and resource-saving technologies
- Preserving the life, health, labor activities, and professional longevity of employees
- Respect for human rights and non-discrimination in all its manifestations
- Ensuring the work safety of employees
- Enhancing the wellbeing of workers
- Creating conditions for continuous professional growth and enhancing the professional knowledge and skills of employees
- Support for young families
- Care for children of employees and retirees
- Developing the institution of social partnership
- Disseminating sustainable development principles in the business community
- Interaction with internal and external stakeholders for the purpose of maintaining a balance of interests and mutually beneficial cooperation
The Company devotes special attention to ensuring safe production processes. This applies to both the accident-free operation of equipment and environmental standards as well as the safety of personnel. One of the Group’s main objectives is to promote the sustainable development of the regions in which its production assets are located, which involves both achieving economic growth and ensuring favorable environmental conditions for daily living.
In addition, one of the key principles of Inter RAO’s corporate policy is that its employees are the Company’s most essential asset. In this regard, the Group’s companies attach great importance to occupational safety issues and ensuring the maximum protection and safety of employees engaged in production.
Accession to the UN Global Compact
In 2019, Inter RAO joined the United Nations Global Compact, the United Nations’ largest international initiative in corporate social responsibility and sustainable development. The UN Global Compact unites businesses that are committed to responsible business practices and maintaining a good reputation on a global scale.
By joining the UN Global Compact, the major diversified energy holding Inter RAO has become part of the corporate responsibility and sustainable development community. This step signifies the Company’s desire to integrate global standards of corporate and social responsibility into its sustainable long-term business development.
As a party to the UN Global Compact, Inter RAO has undertaken voluntary commitments to comply with the fundamental principles of the Global Compact in its activities: the Company pledges to update its business model and strategy in favor of long-term sustainability, integrate UN principles in human rights, labor relations, environmental protection, and anti-corruption into its strategy, management system, and corporate culture, and also publish information on the results of its sustainable development activities on an annual basis.