GES Investor Services has confirmed a high level of industrial safety and labor protection at Sayano-Shushenskaya hydropower plant
RusHydro (LSE, MICEX-RTS: HYDR, OTC QX: RSHYY) announces that GES Investor Services, an independent agency, which specializes in evaluating the social and environmental responsibility of companies, following analyst visit to Sayano-Shushenskaya hydropower plant, has issued a report, in which it concluded, that the level of industrial and occupational health protection at the plant is high.
The visit to the plant was a logical development in the constructive dialogue between RusHydro and GES since the accident and GES' efforts to evaluate the implications of the accident and the ensuing recovery of the power plant.
The methodology, applied by GES to evaluate companies, includes dialogue with broad range of stakeholders and also looksat how the respective companies comply with international standards in environmental, social issues and corporate governance. In particular, in regard to the situation at Sayano-Shushenslaya hydropower plant, analysts investigated how labor conditions at the plant complied with the 1st Principle of the UN Global Compact and the 5th Guideline of the OECD Guidelines for Multinational Enterprises. According to the GES report, RusHydro, both on its own initiative and following recommendations of the Federal Agency for environmental, technological and nuclear supervision (Rostekhnadzor), has undertaken additional technical measures to improve plant safety, introduced new occupational safety standards, and improved the system for monitoring and preventing emergency situations.
«For GES to be able to issue this positive recommendation to investors it was important to ensure that the high level of safety seen at Sayano-Shushenskaya hydroelectric plant is implemented across the company in its management systems», says GES Senior Engagement Manager Flemming Hedén.
GES - founded in 1992 - is one of the world's most experienced independent engagement providers for Responsible Investment. In cooperation with investors GES aims to improve company management of environmental, social and governance issues in order to create long-term, sustainable shareholder value. The estimated amount of assets under advisory by GES' clients - including numerous well-known pension funds, banks and other investors - is approximately ┬700 billion. GES has offices in Sweden, Denmark, Poland and Switzerland, as well as strategic business partnerships with Manifest in the UK, oekom research in Germany/France and SIRIS in Australia.
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.
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