RSPP has been compiling its sustainable development, corporate responsibility and reporting indexes since 2014. The project’s objective is to develop a toolset for independent assessment of business performance with a view to:
• advancing a systemic view of sustainable development and corporate social responsibility as the general platform for fair and impartial recognition of the business’s contribution to and impact upon the society and the environment;
• translating the corporate social responsibility discourse into the language of tangible, comparable and verifiable indicators;
• increasing corporate transparency and the quality of governance in the area of sustainable development and corporate responsibility;
• fostering brand reinforcement and strengthening the reputation of Russian companies.
Under the project, the Responsibility and Transparency index, and the Sustainable Development Vector index are compiled:
They serve as an extension of a line of tools for measuring and performing a self-assessment of a business’s performance in the area of corporate social responsibility, developed by RSPP and adopted by corporate practitioners.
Observations conducted throughout 2014–2016 show that many companies have expanded the number of indicators disclosed in their publicly available reports.
As an example, such parameters as workforce, productivity, workforce attrition, greenhouse gas emissions are being increasingly reported. There has been an upturn in disclosure on environmental impact. There has also been increasingly more focus on reporting the effectiveness of investments made in support of local community development. Yet, the gap between the leaders and the remainder of the sample is quite considerable. Not only has the index’s average value failed to grow but it has, as can be seen from Graph 1, declined somewhat year on year
Graph 1. Historical changes in values
of the Responsibility and Transparency index in 2014-2016
The third edition of the Sustainable Development Vector
index reflects a positive trend with the businessperformance indicators for key areas of corporate social responsibility. The index has been growing steadily overa period of three years despite the challenging economic environment
The 2016 group of the Sustainable Development Vector index leaders (listed alphabetically) Gasprom, Eurochem, Inter RAO, Lukoil, Metalloinvest, MMK, Nizhnekamskneftekhim, NLMK, Nornickel, OMK, RZD, Rosatom, Rosneft, Rostelecom, Rushydro, Sakhalin Energy, Siberian Coal Energy Company (SUEK), AFK Sistema, Severstal, Tatneft, Uralkali, PhosAgro.
The subject of public verification is the significance and completeness of information on the company’s operation results disclosed in the non-financial report (as stated in the Russian Business Social Charter).
The Board members are experts in corporate responsibility and non-financial reporting who have authority and reputation in the expert and business community.