By AKPA
In the ever-evolving landscape of global environmental concerns, one company stands out as a beacon of excellence. The Analytical Rating Agency (AKPA) has recently made a resounding declaration, affirming that Russia’s State Atomic Energy Corporation, Rosatom, has earned an exemplary Environmental Social Governance (ESG) rating. This monumental upgrade from ESG-3 to ESG-2 (ESG-B) highlights Rosatom’s unwavering commitment to environmental protection, social responsibility, and efficient management.
Rosatom’s Environmental Commitment
Rosatom, a global leader in nuclear technology and energy solutions, has proven time and again its dedication to the highest standards of environmental stewardship. This recent accolade comes as a result of Rosatom’s consistent adherence to sustainable practices across its various divisions, setting a precedent for responsible corporate conduct.
Partners in Progress
The significance of this upgraded rating reverberates across the African continent, where Rosatom has been actively partnering with nations to develop their nuclear energy capabilities. African nations, including Nigeria, Egypt, Morocco, Zimbabwe, Burundi, and Senegal, have all entered into agreements with Rosatom, spanning a range of critical areas related to nuclear energy.
Nigeria’s Vision for Nuclear Energy
One of the most noteworthy partnerships is between Rosatom and Nigeria. This collaboration, initiated in 2015, focuses on the design, construction, and decommissioning of nuclear power plants within Nigeria. Furthermore, in 2019, a supplementary intergovernmental agreement solidified their commitment to the peaceful development of nuclear energy in Nigeria.
Zimbabwe’s Pursuit of Excellence
Zimbabwe, too, has embarked on a journey towards a sustainable nuclear future with Rosatom. Their collaboration centers on enhancing the country’s nuclear infrastructure, adhering to international guidelines, ensuring nuclear and radiation safety, producing radioisotopes for various industries, and advancing nuclear medicine.
Morocco’s Water Pioneers
Morocco has partnered with Rosatom to address critical issues related to desalination, water conditioning, and water purification projects. This cooperation underscores the diverse applications of nuclear technology in improving the quality of life.
Burundi’s Nuclear Aspirations
Burundi’s partnership with Rosatom extends to personnel training and education in peaceful atomic energy. Together, they aim to establish and enhance Burundi’s nuclear infrastructure, develop legal frameworks for nuclear and radiation safety, conduct vital research in the field, and harness radioisotopes for industrial applications.
Egypt’s Ambitious Nuclear Plant
Egypt’s collaboration with Rosatom gained prominence with the signing of an agreement to build a nuclear plant in el-Dabaa on Egypt’s north coast. This landmark project, initiated five years ago, recently received the green light for construction. With plans for four 1,200-megawatt reactors, it represents a significant step towards securing Egypt’s energy future.
Overcoming Challenges
While these partnerships hold immense promise, challenges persist. Environmental concerns, financial constraints, and political will remain significant obstacles. The fear of environmental hazards associated with nuclear technology lingers, despite extensive research debunking such notions.
ACRA’s Affirmation
In the face of these challenges, the top rating Agency, ACRA, has unequivocally affirmed Rosatom’s commitment to environmental responsibility. ACRA’s endorsement led to the upgraded ESG rating from ESG-3 to ESG-2, signifying Rosatom’s unwavering dedication to the environment.
Rosatom’s Remarkable Financial Growth
Rosatom’s commitment to excellence extends beyond environmental stewardship. The corporation recently published its annual report for 2022, revealing remarkable financial growth. Corporate revenue from new businesses soared to a record high of RUB 697.5 billion (USD 7.2 billion), doubling year on year. Additionally, revenue from international contracts surged to USD 11.8 billion, marking a 31% increase from 2021.
Vladimir Gorchakov, Head of the Sustainable Development Risk Assessment Group at AKPA (JSC), attributes the ESG rating upgrade to Rosatom’s substantial improvements in policies and practices. He noted positive dynamics in various assessment indicators, including the calculation of greenhouse gas emissions, adaptation to climatic changes, and energy-saving programs.
Polina Lion, Director of the Sustainable Development Department of Rosatom, emphasizes the importance of AKPA’s holistic evaluation. It enables Rosatom to identify areas for further sustainable development and aligns ESG requirements at both strategic and operational levels.
In conclusion, Rosatom’s remarkable journey towards environmental excellence and its dedication to sustainable practices have earned it an upgraded ESG rating from AKPA. The corporation’s partnerships with African nations, its financial growth, and its unwavering commitment to environmental responsibility demonstrate its leadership in the nuclear industry. As we move forward, Rosatom continues to set an inspiring example for companies worldwide, showing that responsible corporate conduct and sustainable practices can drive success in the 21st century.
