PhosAgro Announced as Global Compact LEAD

Rhea-AI Summary

PhosAgro has been designated as a Global Compact LEAD participant by the UN Global Compact for its commitment to sustainable business practices. This recognition is granted to companies that demonstrate high engagement levels in the Global Compact's sustainability initiatives. PhosAgro has been a participant since 2018 and focuses on areas like human rights and environmental protection. The company aims to contribute to global food security by providing eco-friendly mineral fertilizers to farmers across 102 countries.

Positive

• Achieved Global Compact LEAD status, recognizing high engagement in sustainability.
• Participation in Action Platforms on Reporting on SDGs and Low-Carbon Development.
• Continued commitment to global food security through supply of environmentally friendly fertilizers.

Negative

• None.

NEW YORK, Sept. 23, 2020 /PRNewswire/ -- PhosAgro has today been announced as a Global Compact LEAD participant for its ongoing commitment to the United Nations Global Compact and its Ten Principles for responsible business.

PhosAgro was identified as being among the most highly-engaged participants of the world's largest corporate sustainability initiative. PhosAgro first received LEAD status in 2019, and is now one of 41 companies in the world that have been granted LEAD status under the UN Global Compact.

Sanda Ojiambo, CEO and Executive Director of the UN Global Compact, said, "LEAD companies represent the highest level of engagement with the UN Global Compact. More than ever before, the world needs businesses of all sizes — like the ones announced as LEAD today — that continuously work to improve their sustainability performance and take action to build a better world."

PhosAgro CEO Andrey Guryev said: "Obtaining LEAD status under the UN Global Compact is an important recognition of PhosAgro's progress in terms of compliance with the Compact's Principles in the areas of human rights, labour relations, environmental protection and fighting corruption.

"Sustainable development is one of the priorities outlined in PhosAgro's Development Strategy to 2025. We aim to achieve even greater progress in this area and will continue to further contribute to ensuring global food security through supplying our environmentally friendly mineral fertilizers that are free from heavy metals concentrations to farmers in 102 countries."

To be eligible for LEAD, a company must:

1. Be a participant in at least two UN Global Compact Action Platforms to demonstrate the company's engagement with the UN Global Compact and commitment to defining and fostering leadership practices in line with the Ten Principles and the Global Goals; and
2. Submit or commit to submitting an Advanced Communication on Progress — an annual sustainability report detailing progress on implementing the Ten Principles.

Phosagro has demonstrated its commitment to the UN Global Compact this year by participating in Action Platforms on Reporting on SDGs and Pathways to Low-Carbon & Resilient Development.

Each UN Global Compact Action Platform convenes business, Global Compact Local Networks, leading experts, civil society, Governments and UN partners to solve complex and interconnected issues and innovate around the Sustainable Development Goals. PhosAgro's Communication on Progress (CoP) and other related information is available in its Participant profile on the UN Global Compact website http://www.globalcompact.ru/participants/pao-fosagro/.

Since joining the UN Global Compact in 2018, PhosAgro has been proud to be part of a global movement of sustainable companies and stakeholders. By adopting a principles-based approach to sustainability, PhosAgro is taking shared responsibility for building a better world.

About PhosAgro

PhosAgro (www.phosagro.ru) is one of the world's leading vertically integrated phosphate-based fertilizer producers in terms of production volumes of phosphate-based fertilizers and high-grade phosphate rock with a P₂O₅ content of 39% and higher. PhosAgro's environmentally friendly fertilizers stand out for their high efficiency, and they do not lead to the contamination of soils with heavy metals.

The Company is the largest phosphate-based fertilizer producer in Europe (by total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of high-grade phosphate rock with a P₂O₅ content of 39%, a top-three producer of MAP/DAP globally, one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia, and Russia's only producer of nepheline concentrate (according to the RAFP).

PhosAgro's main products include phosphate rock, over 50 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in 102 countries spanning all of the world's inhabited continents. The Company's priority markets outside of Russia and the CIS are Latin America, Europe and Asia.

PhosAgro's shares are traded on the Moscow Exchange, and global depositary receipts (GDRs) for shares trade on the London Stock Exchange (under the ticker PHOR). Since 1 June 2016, the Company's GDRs have been included in the MSCI Russia and MSCI Emerging Markets indexes.

More information about PhosAgro can be found on the website: www.phosagro.ru.

View original content:http://www.prnewswire.com/news-releases/phosagro-announced-as-global-compact-lead-301136816.html

SOURCE PhosAgro