Sustainalytics Raises the Rating of JSC NC “kazmunaygas”

Source Press Release
Company KazMunayGas 
Tags Environment, ESG/CSR
Date October 28, 2021

International agency Sustainalytics[1] has improved the risk rating of JSC NC “KazMunayGas” in sustainable development to 28.4 points, which highlights KMG’s strong positions in managing material ESG risks in the global oil and gas market.

KMG’s first ESG risk rating of 34.5 points was assigned by Sustainalytics in 2020, reflecting a High Risk level.

Sustainalytics rates companies by assessing their environmental, social and corporate governance risks, and by benchmarking their capability to manage such risks against competitors. For detailed information about Sustainalytics rating, please follow this link.

The improvement of KMG’s rating to the Medium Risk level results from the Company’s positive sustainable development performance and the focus on implementation of the best ESG practices in its strategy and ongoing operations.

“We are happy that such a reputable agency as Sustainalytics has assessed KazMunayGas as a leader in sustainable development. We pursue an integrated and consistent approach in making the ESG principles part of our business. We have adopted the Company’s Environmental Policy, organised the Low-Carbon Development Project Office for working out in-house decarbonisation policies to be further built in the Company’s Development Strategy, and have come up with the corporate Low-Carbon Development Programme. We are faced with a great challenge of keeping up with high sustainable development standards. By making a choice in favour of a responsible approach to business,  KazMunayGas once again demonstrates its commitment to global ESG goals,” said Alik Aidarbayev, Chairman of the Management Board.

In 2021, we are set to solve the important task of defining KMG’s potential for reduction of the carbon footprint and carbon intensity of production, subject to the impact of the domestic and international carbon regulation on the Company’s operations, and to future achievement of reduced carbon intensity objectives by implementing a package of the most efficient decarbonisation projects.

[1]   Sustainalytics is a leading independent provider of environmental, social and corporate governance research, ratings and analysis that helps investors worldwide develop and implement informed investment strategies.

Source: EvaluateEnergy® ©2023 EvaluateEnergy Ltd