RusHydro’s rating has been affirmed as Level 8 – “Advanced Corporate Governance Practice.” This is the highest value of the National Corporate Governance Rating among electric power companies. For the fourth year, RusHydro has maintained its status as one of the leading Russian companies in terms of corporate governance quality.
The rating is awarded by the Russian Institute of Directors (NP RID), Russia’s leading consulting and information research center on corporate governance.
Between September 5, 2019 and September 10, 2020, NP RID experts assessed RusHydro’s corporate governance practices against 160 criteria, including compliance with shareholder rights, organization of management and control bodies activities, information disclosure, corporate social responsibility, and sustainable development.
RID concluded by noting the role of the Board of Directors in improving the Company’s financial profile. The Board of Directors have considered transactions that allowed reducing the debt burden, considered strategic development issues such as updating the Innovative Development Program and Long-Term Development Program, and approved measures to improve the investing activities efficiency.
The experts expressed their appreciation of the new revisions of the Articles of Association, the internal audit policy, the Regulations on Insider Information and the Audit Committee, and also noted the stability of the Company’s dividend policy. According to RID’s conclusion, RusHydro’s draft annual report for 2019, compared to the preceding year, contains changes aimed at compliance with the best global trends in corporate social reporting, and supplementary information recommended by the Russian Code of Corporate Governance. The above includes: increasing the number of disclosed indices in accordance with GRI SRS by almost a third, improving the quality of indices disclosure, including quantitative indicators on RusHydro’s contribution to achieving the UN 2030 Agenda for Sustainable Development, and describing the Company’s contribution to the development of Russia’s low-carbon economy.
All these changes are aimed at ensuring the rights of shareholders, and increasing the transparency of activities, objectivity and balance in the resolutions adopted by the management bodies.
Shares / ADR