Sustainable development in practice Uralkali.
The global sustainable development model is all about acknowledging that the world has a finite, dwindling amount of resources. This strategy emerged as a result of worries about current ecological problems and will be the standard for humanity in the decades to come. This idea ties together three disparate but related areas of your company – its economic, social, and environmental impacts. Turns out that any benefits you reap economically should also take into account the costs on the environment.
Sustainable development correlates to increased success and stability for any company that commits to it. It ensures that the business will be able to produce high-quality products for a long time, investors, public figures who are aware of the inter-dependency between your business’s financial results and its non-financial programs.
“The concept of sustainable development” was a logical progression from practices in the 1970s like greening knowledge and socio-economic development. If we don’t work collaboratively to solve the pressing problem of limited natural resources and pollution, we will risk our own survival. We are all connected; and economic, humanitarian, and personal growth depend on an environment that supports us.
Uralkali is an industry leader in sustainability and the importance of plant nutrition in sustainable food systems.
The company’s sustainable development principles include balancing the economic, social and environmental needs of our business. For more information on these principles, please contact us at [email protected].
The Uralkali-Uralchem Group is trying to deliver a comprehensive ESG strategy. We developed and approved by the board of directors a 5-year ESG strategy at Uralkali. Within its framework, projects for sustainable development are being carried out. Companies can be guided to create an integrated and effective system for sustainability management and to integrate sustainable development into their organization. For example, the negative effects on the environment are reduced, employees stay safe and there is better responsibility in a given region. There is also responsible corporate governance.
Uralkali has a high ESG score and is one of the best choices as of this moment. The company scores 52 points vs. 36 points on average for the chemical industry in SAM’s S&P Global independent international ESG rating. As the data shows, the company’s score is higher than that of 71% of chemical manufacturers who took part in a survey in 2020. The figure indicates that they take sustainability seriously and are committed to upholding high standards.
And there are already results. Already, in June 2021, for the first time in its history and the first company among mineral fertilizer producers in Central and Eastern Europe, Our company has signed an agreement with 18 banks to receive the largest syndicated loan in Russia and the CIS. The volume of this deal is 1.25 billion US dollars and it is linked to fundamental development indicators. The sustainability indicators linked to the loan cover both environmental and safety aspects. It’s important for us to secure ESG financing as a major stage of our ESG strategy, and we’re working hard to maintain a safe work environment for employees.
Uralchem is also working on sustainable development. We’re identifying areas to improve and are working on a strategy that will allow us to optimise the company’s performance without compromising future generations and their needs.
Fertilizer production has a mission that’s in line with the goals of Uralchem and Uralkali – to provide everyone around the world with food, solve the problem of insufficient food. Uralkali is a company that understands the global sustainability goal and has invested resources in developing agriculture sustainably. For example, they have programmes to ensure the safety of their products and provide assistance for more sustainable farming in countries. This is not only about farming and the sale of fertilizers. We also provide for example agricultural training for farmers, with a focus on increasing crop yields and improving the economic situation of farmers.
One of the goals at Uralkali is to educate more than 20,000 farmers by 2025 in agronomic literacy. This is done through educational programs that we provide for them. And The Company consistently implements a number of events- in 2020, 48 workshops were organized, during which 2,763 farmers and people representing the agricultural industry were covered with educational programs. They aimed to increase the level of agronomic literacy.
In 2020, Uralkali was awarded the gold medal of the champion of IFA, Responsible Approach to Production Activities. Companies to receive the title of industry champion had to be involved in our association’s comprehensive, field-based and independent trade study. They had to show product quality analysis, industrial safety management, and labor protection measures. When looking at ways to improve production efficiency, there are many factors to take into account. Ecology, energy efficiency and resource saving are just a few of the areas that may be an asset.
What goals does the company have?
Uralkali has set itself a number of ESG goals, including reducing its environmental impact. This includes working to improve energy efficiency, reduce CO2 emissions and protect water and we are proud to be doing our part as one of the world’s biggest potash manufacturers. We have tried to do everything we can, including efficient waste management, preserving biodiversity, developing an employee well-being program and an Employee Code of Conduct. We also developed a Supplier Code of Conduct to protect the environment while supplying our customers with essential products and services which they need to run their businesses. We’ve placed ESG goals on the horizon of 5 years to show our intention to not only maintain, but constantly improve our sustainable development management system. This system is based on our previous commitments and the actions that follow suit. Uralchem is currently developing an ESG strategy which will outline our goals and priorities but it’s pretty clear what concerns we’ll be tackling – product safety, environmental protection, production safety, responsible sourcing.
At the moment, both corporations are developing a climate plan to follow the ESG trend. The top priority is ambitious goals and significant achievements in environmental sustainability.
The increase in agricultural productivity can help to combat world hunger. Proper use of fertilizers, along with land-management practices, can lead to a greater yield of food and crops. The group was founded in 1987 and it’s work is primarily focused on developing high quality products which are safe for the environment, this helps to increase food yields and increase soil fertility.
Sustainability is a necessary condition for moving forward, as well as identifying & mitigating emerging new risks. It allows us to respond to the changing demands of society and respond to the needs of people’s desire for a sustainable future. Consider sustainability when developing your own business practices.