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MIL OSI Translation. Region: Russian Federation –

Source: Moscow Government – Moscow Government –

Moscow has approved the procedure for assigning the status of compliance of the activities of organizations with the sustainable development goals (SDGs) – ESG status. The Deputy Mayor of Moscow for Economic Policy and Property and Land Relations spoke about this Vladimir Efimov.

The Sustainable Development Goals (SDGs), developed by the UN General Assembly in 2015, aim to address global challenges such as poverty, inequality, climate change, economic growth and environmental protection. 17 goals and 169 tasks have been established, for the achievement of which corresponding indicators have been defined.

“Moscow is actively involved in the ESG agenda. The city fully ensured the implementation of indicators for six SDGs thanks to such tools as a program to stimulate the creation of employment opportunities, a green corridor, public-private partnerships, including offset contracts, and others. Assigning ESG status to specific organizations will become another tool for attracting investment in the capital’s economy and meeting SDG indicators. Among the advantages are the formation of an image of a responsible and sustainable company, access to new suppliers and the creation of supply chains, easier access to foreign markets and additional opportunities for promotion in them, taking into account the global trend for sustainable development,” said Vladimir Efimov.

In accordance with the procedure approved by the Moscow Government, when assessing the activities of organizations for compliance with sustainable development goals, about 90 indicators will be taken into account in such areas as business reputation, impact on the environment and ecology, social and managerial aspects.

“Companies that have passed the verification of compliance with the SDGs will be assigned one of the ESG statuses: ESG-A, ESG-B and ESG-C, or “candidate”, depending on the points scored. They are subject to mandatory annual confirmation. ESG “candidate” status is assigned for a period of one year, the rest – for three,” noted the Minister of the Moscow Government, Head of the Moscow Department of Investment and Industrial Policy

Vladislav Ovchinsky.

Organizations that pass the audit and receive 75 points or more will be issued a certificate with ESG-A level assigned to them. Enterprises that score from 50 to 74 points receive a certificate assigning ESG-B level ESG status. Companies with a total score of 25 to 49 will receive ESG-C level status. Organizations with a score of 24 or less will be assigned the status of “candidate”.

The activities of organizations will be assessed for compliance with sustainable development goals by the State Budgetary Institution “City Investment Management Agency”. Decisions on assignment, confirmation and termination of ESG status will be approved by an interdepartmental commission.

You can apply for status on the Moscow investment portal.

More information about economic policy and property-land relations in Moscow can be found on the website economy.mos.ru.

Note; This information is raw content directly from the source of the information. This is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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