Russia’s largest business organisaton, the powerful Union of Industrialists and Entrepreneurs (RSPP), has rated Nornickel’s anti-corruption effort among top Russian companies in its maiden rating action.
The class A2 rating, which the Union has assigned to Nornickel, means that the miner implements extensive and efficient anti-corruption measures and has a business model that poses low levels of threat to investors, creditors, partners, and other stakeholders.
RSPP had selected 50 largest Russian companies for assessment but only 23 companies received class ratings because they provided sufficient information for a reliable valuation of their anti-corruption initiatives.
“The high appraisal of the RSPP is a confirmation of our commitment to reject corruption in any and all forms, and exemplifies the fruits of great teamwork,” said Andrey Bougrov, Nornickel’s senior VP for Sustainable Development. “In all the areas of our activity, whether in Russia or abroad, we follow a policy of zero tolerance towards corruption. In 2014, Nornickel was one of the first large Russian companies to sign the RSPP’s Anti-Corruption Charter of the Russian Business, and we are pleased to cooperate in the development of this new anti-corruption rating.”
Nornickel’s anti-corruption practices are based on a number of charters, including the corporate Code of Business Ethics that establishes the corporate rules and ethical standards of behaviour to be observed by all employees. The “Anti-Corruption Policy” was also approved to ensure adherence to anti-corruption legislation and the prevention, detection, and elimination of the causes and conditions that give rise to corruption.
In November 2016, Nornickel joined the United Nations Global Compact, whose main mission is for commercial organisations all over the world to acknowledge and actively implement ten main principles to promote human rights, healthy labour relations, environmental protection, and anti-corruption efforts. Learn more about Nornickel’s anti-corruption activities here.