KMG Ranks First in ESG Disclosure in Top 50 Rating of PwC Kazakhstan
JSC NC “KazMunayGas” ranks first in top 50 companies for disclosure of non-financial information in corporate reports for the second consecutive year.
The rating was made by PwC Kazakhstan among 96 companies. The survey assessed the quality and availability of ESG information in annual reports and sustainability reports of Kazakh companies published in 2021.
The purpose of the rating is to assess how Kazakh companies disclose ESG information, identify best practices and provide recommendations for further development.
The rating methodology includes 76 criteria. A score is given for each criterion (from 1 to 10). The rating criteria included such disclosures as sustainability management, social policy, environmental impact and corporate governance. Additional points were awarded for the clarity and quality of information.
“The quality of ESG disclosure in the reports of Kazakh companies continues to improve. The most notable quality improvement of disclosures is in Sustainability Management, where the description of ESG policies and approaches and sustainability strategy disclosures were rated. Companies more often follow international initiatives. More companies said they support the UN Sustainable Development Goals (46% in 2020 versus 30% in 2019),” PwC Kazakhstan said in its report.
In its Development Strategy 2031, KazMunayGas defined sustainable development as one of the strategic objectives aimed at integrating the sustainability principles in the key business processes, operations, and decision-making practices. We are systematically incorporating these principles into our operations by improving our business processes, taking ESG risks into account,” Alik Aidarbayev, Chairman of the Management Board of JSC NC “KazMunayGas”, says.
KazTransOil JSC, a subsidiary of KMG, was also among the top three in the rating.
For more details about the rating, please visit https://www.pwc.com/kz/en/assets/pdf/top-50.pdf