Horizon CF participated in the preparation of annual and integrated reports, as well as reports on the sustainable development of enterprises of the oil and gas, utilities, metal and mining industries for 2022. These business sectors are currently leading the Russian ESG transformation.

We have conducted our work in accordance with recognized international standards and the best Russian practices, including the recommendations of the Bank of Russia on non-financial information disclosure, the TCFD (Task Force on Climate-related Financial Disclosures) guidelines, and the updated GRI (Global Reporting Initiative) standards.

During the integration of these standards, we actively engaged with companies conducting independent assurances in accordance with the International Standard for Assurance Engagements (ISAE) 3000 (revised), as well as with the Russian Union of Industrialists and Entrepreneurs (RSPP) regarding the organization of public hearings.

While preparing reports, our experts always consider current international trends and industry specifics of Russian companies, applying individual and tailored solutions. This year, we successfully addressed an important task – finding a balance between providing objective information to shareholders and adhering to disclosure restrictions that ensure the protection of assets, while maintaining the profitability and stability of Russian companies. This is especially in demand in the context of the current geopolitical situation and the associated sanctions risks. Beginning in 2023, while preparing reports, we will incorporate the newly established IFRS disclosure standards as recently issued by the International Sustainability Standards Board (ISSB).

Our clients remain committed to sustainable development policies. The key tasks and goals in this domain are stated in the National Development Goals of Russia until 2030 and the Presidential Decree on reducing greenhouse gas emissions. Additionally, sustainable development mechanisms continue to evolve actively in neutral and friendly countries. Working in this direction opens new business opportunities and remains one of the key factors for the future growth of shareholder value.

Grigory Shlyapin, Managing Director of Horizon CF