New ESG Rating

We continued to integrate the ESG criteria into our operations, which are a prerequisite for improving our sustainability performance management and understanding of key ESG risks and opportunities.

International agency Sustainalytics has improved the risk rating of JSC NC “KazMunayGas” in sustainable development from 34.5 to 28.4 points, which highlights KMG’s strong positions in managing the material ESG risks in the international oil and gas market.

KMG’s ESG rating was raised from 69 to 72 out of possible 100. In terms of ESG rating components, KMG received the following scores: environmental component has been raised from 69 to 74, social from 70 to 72, and corporate governance from 67 to 72. This indicates the Company’s rather high performance in sustainable development globally among oil and gas companies.

Sustainalytics gives ESG rating to the companies by assessing their environmental, social responsibility and governance risks, and their capability to manage such risks as compared to competitors. More detailed information about Sustainalytics rating is available at:  https://www.sustainalytics.com/esg-rating/kazmunaygas-nc-jsc/1028382256

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 to integrating the ESG principles in our operations: we have adopted the Company’s Environmental Policy, organised the LowCarbon Development Project office to develop in-house decarbonisation policies to be further integrated into the Company’s Development Strategy, and have developed the Company’s Low-Carbon Development Programme.

We are faced with a great challenge of keeping the high sustainable development standards. By choosing a responsible approach to business, KMG once again demonstrates its commitment to global ESG goals.