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Top Business Leaders Discussed Environmental Risks


At a round-table for top business leaders hosted by Severstal  IBLF launched a new publication on “Managing Environmental Risks".

The publication, which was sponsored by the Closed Joint-Stock Company «Energy Forecasting Agency», is the result of a series round-table on the subject of Business and the Environment which IBLF organised in 2008-9 and which was attended by senior executives of over 50 Russian and Multinational companies. In the publication, which is directed at business leaders, operations and environmental executives in companies in Russia, are examples of best practices of major companies in managing environmental challenges and also taking up new investment opportunities provided by changing environmental priorities.

Companies featured in the publication include Severstal, Rusal, TNK-BP, Coca-Cola, Industrial Ivnestors and others. There is also a useful overview of the government’s environmental strategy, a list of recent environmental legislation affecting business operations, and a reference list of useful links to environmental organisation in Russia and abroad.

In Russia, environmental and safety concerns have been at the forefront of public attention with the recent Raspadskaya mining disaster and the GidroOGK turbine accident. Russian oil companies are beginning to address the inefficiencies of flaring. President Medvedev has called for the creation of a single and enforceable environmental policy and has promoted new energy efficiency legislation.

At the round-table, board-level leaders and heads of environmental departments from some of the biggest companies and also government agencies discussed a wide range of issues including the potential impact of international regulation on business operations in Russia, and the future in Russia of energy-efficiency, recycling, alternative energy.

Brook Horowitz, Executive Director of IBLF in Russia, “We are impressed by the commitment of the companies featured in this publication to addressing the environmental challenges head on. For them it is not a question of public opinion or moral obligation – it makes good business sense, improving the attractiveness of the company for investors and lenders”.

The publication (in Russian) can be downloaded here or is available free-of-charge from IBLF: [email protected]

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