Rustam Minnikhanov has held a meeting of the Board of Directors of the Tatneft Oil Company

On 27 May in the Government House of the republic Tatarstan President Rustam Minnikhanov held a meeting of the Board of Directors of the Tatneft Oil Company.

The Board approved the Policy of the Tatneft the area of sustainable development and interaction with stakeholders. The policy is designed to ensure that all stakeholders understand the responsible position of the company 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 the 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 the company adheres to in its 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.

Based on the results of the assessment carried out by the Russian Institute of Directors, which has many years of experience and expertise in the area of the management and performance evaluation, 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 Board was also informed about the results of the Tatneft budget execution  for 4 months of 2022 and its members 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.