LSR Group becomes Russia’s first real estate developer to join UN Global Compact
07 February 2019
The move reflects LSR’s focus on aligning sustainable long term growth with highest levels of ethics.
PJSC LSR Group (“LSR” or the “Company”) (LSE: LSRG; MOEX: LSRG), one of the leading real estate developers and building materials producers in Russia, announces that as part of its efforts to exercise world class standards of environmental, social and governance practices, the Company has joined the UN Global Compact (“the Compact”).
Through its membership of the Compact, LSR intends to take a lead on implementing sustainable and socially responsible real estate business practices in Russia.
The Compact is the world’s largest voluntary corporate citizenship initiative. It promotes corporate social responsibility around the globe by promoting 10 basic principles covering human rights, labour, the environment, and anti-corruption measures among many others. It currently has more than 13,000 participants in 170 different countries.
Igor Tsoy, Director of Investor Relations and Sustainable Development, commented: “Joining the UN Global Compact reinforces our code of ethics and represents our formal commitment to align our strategies, operations and reporting with universal principles of sustainability.
“As proud participants of the Compact, we place sustainability at the forefront of everything that we do and we support and share the Sustainable Development Goals adopted by the UN General Assembly in 2015.
Our vision is to become the leading construction company in Russia and our focus on sustainability supports the long-term growth of the Company, while taking direct responsibility for issues that impact our society, the environment and future generations”.
LSR is committing to report on its sustainability activities on an annual basis. Progress will be communicated to stakeholders on a broad range of areas including human rights, the prevention of corruption, labour standards and the environment.
LSR has contributed to the prosperity of the communities it operates in for more than 25 years, by operating as a good corporate citizen, generating employment and investing in infrastructure. Aside from participating in addressing priority social development issues, the Group also looks forward to reporting on its efforts to safeguard and revitalise areas that are important to Russia’s cultural heritage.
For more information please contact:
Director of Investor Relations and Sustainable Development
LSR Group Press Service