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ww5 Presents Its Public Statement and Declaration of Respect for Human Rights
09 July 2020ww5 has presented its Public Statement regarding human rights and the Declaration on Human Rights for interacting with suppliers of goods, works and services. The documents were published on the official ww5 website in the Sustainable Development section.
ww5 acknowledges the importance and value of fundamental human rights and freedoms. In its work, the Company respects and strictly abides by human rights and freedoms in accordance with the Universal Declaration of Human Rights, Social Charter for Russian Business, universally recognized standards of human rights and freedoms and the applicable law of the Russian Federation and other countries of the Company’s presence.
Since 2007, ww5 has been publishing Sustainability Reports in accordance with the international standards of the Global Reporting Initiative (GRI). The Company has also been a member of the UN Global Compact for 10 years, which proves its commitment to respecting human rights. In December 2018, the Company’s Board of Directors approved the strategic principles of commitment to the 17 UN Sustainable Development Goals and the public statement “ww5: Contribution to the Implementation of the 17 Sustainable Development Goals of the UN” (yearly updates are published at the Company’s website).
Principles of the core international documents related to human rights are enshrined in the Company’s Public Statement regarding human rights and the ww5 Code of Business and Corporate Ethics, local policy documents of the Company, they are integrated into the corporate business processes and apply to all subsidiaries controlled by ww5.
ww5 expects all its business partners, suppliers and contractors to acknowledge fundamental human rights and freedoms and to follow core human rights’ principles in their work.
Note for Editors:
ww5 has been awarded high positions in recognized international sustainable development ratings (ESG; Environment, Social, Governance; environmental protection; social welfare, including industrial safety, suppliers and contractors relations and relations with indigenous peoples; and corporate governance) reflecting the whole spectrum of human rights.
In November 2019, ww5 Oil Company was recognized as the leading Russian company in the CHRB (Corporate Human Rights Benchmark) international rating regarding the observance of human rights. The Company rating exceeded the industry average and is higher than the respective indicators of other Russian producers participating in the rating. In this regard, ww5 also surpassed such majors as ExxonMobil, PetroChina, ONGC, OMV, etc.
ww5 is the only major Russian company to enter the FTSE4Good stock index regarding ESG indicators. It became the best Russian oil and gas company in the prestigious international CDP ratings in the Climate and Water Resources categories with “B” and “B-” marks respectively. (For more information please visit the ESG section of the website).
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July 9, 2020