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ROGTEC Magazine - Russian Oil & Gas Technologies - News, Reviews & Articles

Sakhalin Energy Issues Sustainable Development Report

Thursday, September 15th, 2011

Sakhalin Energy presented today its 2010 Sustainable Development Report, the company’s second report produced in compliance with the Global Reporting Initiative (GRI) standard and endorsed by the Council for Non-Financial Reporting of Russian Union of Industrialists and Entrepreneurs (RUIE). The publication of the Sustainable Development Report was preceded by several rounds of public hearings and profound consultations with external stakeholders.

In addition to information about Sakhalin Energy’s production, commercial, HSE and social activities in 2010, the 2010 Sustainable Development Report also describes the company’s management systems and stakeholder engagement mechanisms.

A special focus of the report is on the key principles of the UN Global Compact in the areas of human rights, labour-management relations, environmental protection and social investments.

Sakhalin Energy CEO Andrey Galaev says: “The Company’s 2010 Sustainable Development Report mirrors our intention to enhance sound business practice and achieve high standards of corporate culture. It continues in our course of achieving a higher degree and quality of information disclosure and proves to be an effective instrument of better interaction with the outside world.”

As stated in the RUIE Opinion, by publishing the second Sustainable Development Report the Company “demonstrated consistency in the development of non-financial reporting process”. The Council for Non-Financial Reporting acknowledged that “the RUIE Council recommendations issued during the endorsement process for the previous 2009 Report have been accommodated in the 2010 Report resulting in a greater number of performance indicators disclosed and a more detailed description provided of the management structure, including the management of the sustainable development performance”.

The presentation of the Report was attended by members of the research and expert communities, federal and regional legislative and executive authorities, big business, indigenous people of Sakhalin, non-profit organisations, as well as other communities and media.

The Report is published on the Company Website at www.sakhalinenergy.ru in the “Library” section.

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