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NOVATEK’s core producing assets are located in the Far North, a harsh Arctic region with vast mineral resources and a fragile and vulnerable environment. Тhe Company is committed to environmental protection in its operations. In 2017, the Company’s overall expenses on environment protection and sustainable nature management amounted to RR 2,066 mln.
As part of the “Year of Ecology” in Russia, the NOVATEK Group developed and implemented an Action Plan approved by Chairman of the Management Board. It included the following principle actions:
As part of its commitments under the Cooperation Agreement among the Russian Ministry of Natural Resources and Environment, the Russian Federal Service for Supervision of Natural Resource Usage, the Government of the Yamal-Nenets Autonomous Region and NOVATEK, the Company developed a greenhouse gas emission estimation module and approved its Standard SK-ISU-0-012 “Greenhouse Gas Emission Management System”. The system covers all of the Company’s core upstream and refining facilities, namely six (6) producing and two (2) processing entities. This project brings value by improving the accuracy of greenhouse gas emission accounting and combining estimation with actual measurements. The project “GHG Emission Management System”, implemented by the Company in 2017, was recognized as the winner of the competition for the National Environmental Prize named after V.I. Vernadsky in the nomination “Science for Ecology”.Following a re-certification audit by Bureau Veritas Certification Rus, the NOVATEK’s Integrated Management System for Environmental Protection, Occupational Health and Safety was found to be in compliance with ISO 14001-2004 and OHSAS 18001-2007.Environmental monitoring was performed throughout the reporting year at all of the main license areas and production facilities of the Company. During the monitoring process the condition of the environment components is studied, soil, ground, snow cover, water and bed deposit samples are taken. Air contamination level is inspected. The status of fish stock and fodder resources in water areas is studied as are hydrologic and hydrochemical parameters. The samples taken are tested in certified laboratories. Based on the laboratory analysis the condition of the environment components is evaluated as well as its dynamic pattern over the year. The monitoring revealed that the condition of the environment components in the Company’s production facility locations is evaluated as stable.
In the reporting year, the Company continued its participation in the Carbon Disclosure Project (CDP), whereby information on greenhouse gas emissions and operations energy efficiency is disclosed, as well as in the CDP Water Disclosure Project to disclose data on the use of water resources. Taking part in these projects, the Company intends to achieve a balance between the climate change risks and efficiency of investment projects. The Company offers all stakeholders full access to its environmental information, including by publications in federal and local printed media, on its website, and other disclosure means.
NOVATEK was included in the Vigeo Eiris Best Emerging Markets Performers Index and therefore rated among the 100 most stable companies in emerging markets in 2017. NOVATEK is also included in the FTSE4Good international rating index of compliance with the internationally recognized standards in the area of corporate social responsibility.