MAGNIT PJSC (MGNT)
MAGNIT MAKES TOP-3 IN ESG RANKING OF NON-FINANCIAL PUBLIC COMPANIES, BECOMES BEST AMONG RETAILERS
Krasnodar, Russia (July 21, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, placed third in the ESG ranking of Russian non-financial public companies produced by the National Ratings Agency (NRA). The Company scored 31.71 points, the highest among Russian retailers.
The results of the ranking survey were presented during the roundtable discussion titled "ESG Ranking of Russian Businesses. Transformation of ESG Agenda of Russian Issuers". The ranking spans 105 of the largest industrial and consumer companies whose stocks are included in Level 1 and Level 2 quotation lists of the Moscow Exchange. The maximum possible score, which was derived from three separate components, was 38 points. The top spot was given to a company with its 31.94 points; a company, which scored 31.8 points, came in second.
The NRA's study notes that ESG factors are most important for companies that already have an established pool of investors who focus on ESG compliance and integration of the sustainability agenda. The agency also highlighted the gradual shift in consumer preferences towards products made by ESG-compliant companies as another important driver. The NRA's study states that this is especially important for companies working in retail, where the ESG agenda is rapidly becoming more and more relevant. The agency thinks that Russian consumer sector already has companies that may be viewed as driving sustainable practices in the industry. All this serves as an indication that businesses that actively integrate sustainability practices into their agenda will enjoy a greater number of loyal customers and be able to hold onto their market positions in the future.
Besides that, survey participants showing more advanced levels of ESG agenda integration also have very high transparency and information quality with regard to non-financial reporting.
Magnit, which received the best score among Russian retailers, was assigned to the Advanced Level group. According to the NRA's survey, companies at this level have a long-term sustainability strategy and a plan for implementation of such strategy, as well as relevant KPIs and public reports disclosing achievement of such KPIs. In addition to that, integration of the ESG agenda in these companies is reflected in corporate governance, organizational structure, and business processes; moreover, such companies involve their employees in development and execution of the strategy.
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