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