KMG Ranks First in PwC Kazakhstan Rating
JSC NC “KazMunayGas” was rated first among the Top 50 companies for disclosing non-financial information in the 2019 corporate performance reports. The rating action was carried out by PwC Kazakhstan, involving 107 organisations. The study assessed the quality and availability of ESG information in the annual reports and sustainability reports of Kazakh companies published in 2020.
The purpose of this rating is to provide more information on Kazakh business to the public and investors, increase the level of transparency, and give an impulse to the market to move faster using the practices of advanced countries.
The assessment criteria included such disclosure packages as sustainability management, social policy, environmental impact and corporate governance. Additionally, extra points were given for the clarity and quality of the presentation of information.
“Following the TOP-50 rating arrangements, we noted a positive trend demonstrating that organisations disclosing non-financial information strive to meet the best world practices and standards in their disclosures. The best companies in terms of disclosure were the ones working with foreign investors and lenders (including exporters, public companies and organisations with foreign participation),” the report notes.
“In its activities, KazMunayGas adheres to the highest sustainability standards. The company has implemented a corporate governance system that meets the best international practices and has established an effective dialogue with its stakeholders. In order to enhance the transparency of its ESG disclosures, since 2012, our company has been publishing annual reports in accordance with the GRI Standards. The 1st place in the rating list proves that we are moving in the right direction,” notes Aisha Turebayeva, Director of KMG’s Strategy and Investment Portfolio Management Department.
The rating can be found at: https://www.pwc.com/kz/ru/esg-ds-report.html