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Sustainability

Sustainability

Vision

We are committed to building high quality and comfortable housing, which contributes to both improving people’s quality of life and creating a safe and pleasant social and cultural environment.

Approach

We are guided by the principles of openness and transparency, while considering the interests of all our stakeholders and continuously improving our corporate governance methods. Investing in human capital, ensuring decent and safe working conditions, improving the social environment and quality of life in key regions of presence, and minimising our negative impact on the environment are just as important to us as achieving operational and financial success.

Sustainability management is an integral part of PJSC LSR Group’s existing corporate governance system and is carried out across all organisational levels. The Board of Directors and Board committees determine business priorities and exercise overall management of LSR Group, including its sustainability efforts. A separate structural subdivision, responsible for sustainable development, coordinates and monitors these activities. The PJSC LSR Group’s Sustainability Policy has been in effect since 2019.

In 2020, the Board of Directors established a new committee under the Board of Directors – the Sustainable Development Committee – in order to strengthen LSR Group’s sustainability management system.

Key areas of sustainable development

  1. Providing decent and safe working conditions (occupational health and safety, human resources)
  2. Ethical business conduct and countering corruption
  3. Facilitating the development of regions of operation
  4. Environmental protection

Key targets and objectives

  • Reduce work-related injuries
  • Reduce the occupational disease rate
  • Safety control
  • Recruit and retain talent
  • Talent training and development
  • Ensure social security and develop corporate culture
  • Ethical conduct of business
  • Countering corruption
  • Ensure fair competition among counterparties
  • Build a responsible supply chain
  • Green construction, product quality, and consumer safety
  • Ensure the sustainable use of natural resources and mitigate the negative environmental impact
  • Ensuring environmental safety

International standards, ratings and initiatives

Sustainable Development Goals (SDGs)

LSR Group supports the global Sustainable Development Goals (SDGs). LSR Group identified seven priority SDGs based on the nature of its businesses. These SDGs are linked to our key areas of sustainable development activities. LSR Group contributes to the achievement of the SDGs by conducting business in a responsible manner, reducing negative environmental impact and running charitable and social support projects.

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United Nations Global Compact

Since January 2019, LSR Group has been a member of the UN Global Compact committed to integrating UN human rights, labour, environmental and anti-corruption principles into its strategy and corporate culture, and annually disclosing its sustainability performance.

Global Reporting Initiative (GRI)

Since 2019 LSR Group has been annually publishing sustainability reports in accordance with the GRI Sustainability Reporting Standards (Core option).

Since 2019 KPMG has been annually carrying out external assurance of non-financial indicators.

Task Force on Climate-related Financial Disclosures (TCFD)

For the first time, as a part of Sustainability Report 2020, the LSR Group disclosed information in line with the TCFD recommendations. The disclosure is aimed at informing stakeholders about LSR Group's approach to climate strategy, climate risk management, climate metrics and goals.

 

Sustainalytics ESG Risk Rating

sustainalytics

In January 2021, LSR Group received an ESG Risk Rating of 17.8 and was assessed by Sustainalytics to be at low risk of experiencing material financial impacts from ESG factors.

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MSCI ESG Rating

MSCI

According to MSCI ESG Research, LSR Group’s ESG rating is ‘BBB’ (updated in August 2021).

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Stakeholder engagement

LSR Group’s priority is to strike a balance between the interests of our different stakeholder groups, and to respond promptly to their expectations, needs and concerns. In order to cultivate highly effective and sustainable cooperation with these groups, we employ tools and mechanisms to maximize communication and to ensure that the interests, needs, and expectations of each individual stakeholder group is taken into consideration. LSR Group also operates the Trust hotline, which any stakeholder can use anonymously to bring forward any concerns to LSR Group.

Every year, LSR Group conducts a materiality assessment in order to identify the LSR Group’s most significant economic, environmental and social impacts along with the aspects that had the most substantive influence on the assessments and decisions of stakeholders. This process is regularly improved and includes, among other things, a survey of various stakeholder groups on significant ESG topics.

Risk management

Timely identification, assessment and management of risks, including those related to sustainability, help deliver LSR Group’s objectives and goals, while also contributing to its long-term success. LSR Group has a multi-tiered risk management and internal control system designed to improve the robustness of the corporate structure. Key sustainable development risks are risks associated with:

  • Occupational health and safety;
  • Legislative changes;
  • Human resources management;
  • Violations of ethics and corrupt practices;
  • Environmental impact management;
  • Climate change;
  • Customer relationships;
  • Relationships with suppliers.
Respecting human rights

The fundamental principles underpinning the operations of LSR Group include respect for human rights, which is enforced both in Russia and globally.

LSR Group recognises the importance of respecting the human rights of both its employees and external stakeholders impacted by LSR Group’s operations or products, including its partners, suppliers, contractors, customers and people living in the regions of its operation.

The respect for human rights is also enshrined in the fundamental internal regulations of LSR Group governing personnel and contractor management and the regulation of social and other issues.

Policies

LSR Group has adopted a number of internal regulations governing the Group’s sustainability pursuits.

All of the Group’s entities have local regulations which incorporate the requirements and recommendations set out in the Group-wide corporate documents, while also reflecting the distinctive nature and characteristics of every given entity.

  • Code of Ethics
  • Sustainability Policy
  • Human rights Policy
  • Regulation on Social Responsibility Policy
  • Declaration of the Board of Directors on Countering Bribery
  • Principles for Countering Corruption
  • Regulation on Conflicts of Interest
  • Directive from the CEO of LLC LSR on Specific Measures for the Implementation of the Federal Law On Countering Corruption
  • Risk Management Policy
  • Occupational Health, Industrial and Fire Safety Policy
  • PJSC LSR Group CEO’s Directive On Occupational Safety and Industrial and Fire Safety
  • PJSC LSR Group CEO’s Directive On Accidents
  • Regulation on Procurement
  • Regulation on Policy for Sales by LSR Group Companies
  • Regulation on the Management of Receivables from Clients
  • Regulation on Investment Activities
  • Personnel Selection and Recruitment Regulations
  • Employee Onboarding Regulations
  • Regulation on Corporate Awards
  • Regulation on Housing Programmes
  • Internal Workplace Regulations
  • Regulation on Employee Remuneration and Financial Incentives
  • Environmental Policy
  • Instructions on hazardous waste handling
Response to COVID-19

LSR Group takes the spread of COVID-19 seriously and is aware of the social and economic impact the situation is having on its employees, contractors, customers and communities. LSR Group invests every effort in minimising the risk of spreading COVID-19 and ensuring the business continuity, safety and well-being of stakeholders.

LSR Group implemented in full (and sometimes beyond the required scope) all the required statutory measures and have continued to do so. LSR Group’s key measures include:

  • drafting and implementing internal documents establishing new rules and guidelines in the wake of the pandemic;
  • taking steps to maintain business continuity amid the coronavirus restrictions;
  • rolling out actions to get LSR Group’s entities better prepared for stringent restrictions (a complete lockdown);
  • delivering preventive interventions to ensure the safety and well-being of our staff, including hygiene protocols and remote working;
  • providing instruments for online sales of apartments and building materials;
  • providing access to complete and reliable information about the measures which LSR Group takes to protect its employees, customers and other stakeholders.
«LSR Group» discloses information on the page on the Internet of LLC Interfax-TsRKI — the news agency accredited by the Central Bank of the Russian Federation to disclosure of information.
Information is available here.



© 2013-2021 LSR Group. All rights reserved.
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