PhosAgro receives top marks in Forbes and RBC rankings of Russia’s best employers

PhosAgro has received top marks in the rankings of best employers compiled by Forbes and RBC.

Forbes ranked PhosAgro in the top tier, Platinum, consisting of Russia’s 27 best employers. The rest of the 98 competitors were ranked in the Gold, Silver and Bronze categories.

Companies were ranked based on three groups of criteria corresponding to the abbreviation ESG: Environment, Social, and Corporate Governance. Each company was categorised according to the total number of points it was awarded for each of the criteria.

The rating experts noted in particular that PhosAgro is the first Russian fertiliser producer to meet the Ecological Union’s product compliance standards, giving it the right to use the internationally recognised Vitality Leaf ecolabel. Furthermore, in 2022 PhosAgro’s expenditure on environmental protection exceeded RUB 9 billion.

In the RBC ranking PhosAgro also made the top tier, consisting of the 25 employers with the highest score.

The ranking covered 166 companies that employ more than 2 million Russians. Participating companies were evaluated on the following criteria: employment conditions, business efficiency and innovative development, social responsibility, business reputation and employee feedback.

“Our employees are our Company’s most valuable asset. Social safeguards for PhosAgro staff are enshrined in our collective bargaining agreement, which includes a standardised list of benefits and social guarantees. According to trade union organisations, PhosAgro Group’s collective bargaining agreements are considered among the best not only in the industry, but the entire country. All employees are provided medical coverage under a voluntary medical insurance scheme, health improvement and summer recreation programmes are implemented, including for employees’ children, and our corporate housing programme is much in demand. In 2022-2023, PhosAgro increased the average employee salary by more than 40% through annual indexation and bonuses for professional holidays.”

“Social support and the embedding of ESG criteria into all aspects of the Company’s operations are also key elements of PhosAgro’s development strategy. According to the Company’s 2022 results, the amount of funds allocated to social projects and charitable initiatives increased by a factor of 2.5 to RUB 12.9 billion. Our Platinum environmental score is a testament to the unique eco-efficiency of PhosAgro’s mineral fertilisers, the adherence of our production processes to the most stringent environmental legislation, and the Company’s commitment to long-term sustainability,” said Viktor Cherepov, Chairman of the PhosAgro Board of Directors and Vice President of the Russian Union of Industrialists and Entrepreneurs for Social Policy and Labour Relations, commenting on the Company’s strong showing in the employer ratings.

PhosAgro is also a leader in the RAEX ESG ranking of Russian companies. The rating, which is based on a comprehensive analysis of the quality of corporate management of ESG risks and opportunities, has been compiled since 2018 and today covers 160 companies. November’s top group of organisations with the best scores in Environment, Social and Corporate Governance included PhosAgro and just 3 more companies.