A meeting of the Board of Directors of PJSC TATNEFT named after V.D. Shashin chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Kazan on May 27, 2022.
The Board of Directors approved the Policy of PJSC TATNEFT named after V.D. Shashin in the area of sustainable development and compatibility with stakeholders. The policy is designed to ensure that all stakeholders understand the responsible position of PJSC TATNEFT in this area and to promote the formation of an effective sustainable development management system at all levels of corporate activity planning.
The key priorities of TATNEFT in ensuring sustainable development include supporting local communities and promoting social development, creating conditions for efficient work and human development, minimizing environmental impact, transition to a low-carbon economy and developing technologies, improving corporate management practices and ensuring safety and ESG risk management.
The principles that TATNEFT adheres to in the Company’s activities in the area of sustainable development, inter alia, include compliance with the requirements of the law and other obligations assumed by the Company, taking into account the interests and expectations of stakeholders, integrating sustainable development factors and goals into the business model, strategy and operations, and others.
Specifically, it is emphasized the in the Policy that the Company fully shares in its activities and supports the principles of observing human rights in accordance with the Constitution of the Russian Federation, the Russian Business Social Charter, as well as generally recognized norms fixed in international agreements.
The information about the Policy of PJSC TATNEFT named after V.D. Shashin in the area of sustainable development and interaction with stakeholders is available on the Company’s official website.
The results of assessing the activities of the TATNEFT Company’s Board of Directors and the committees thereof were also were presented to the meeting participants. The Russian Institute of Directors, which has many years of experience and expertise in the area of the management and performance evaluation, acted as a consultant.
Based on the results of the assessment, the experts concluded that the Board of Directors is properly involved in the strategic management of the Company, and separately emphasized the high level of immersion in sustainable development issues, and particularly, the climate agenda.
The information on the results of the budget execution of PJSC TATNEFT for 4 months of 2022 was presented to the Board of Directors and the Board also approved the budget for June 2022, got acquainted with the report on the implementation of strategic initiatives in the area of information technology and digitalization aimed at improving business intelligence and efficiency improvement of the activity, considered a number of other issues of the production and the economic activity.
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