Our approach

The Renova Group of companies, its shareholders and the management realize their responsibility to the community. They invest their best effort in improving business practices across the companies where the Renova Group is the shareholder by pursuing a responsible approach to doing business and sustainable development principles. While participating in the management of its companies, the Group is guided by the objective to build up sound and well-balanced businesses and their sustainable development founded on the following cornerstones:

  • Growth of financial indicators and economic sustainability of companies
  • Being a stable taxpayer
  • Production of good quality goods and services
  • Creation of efficient and safe jobs
  • Environmental protection
  • Investments into life improvement in local communities
  • Honest competitiveness
  • Building up sustainable and bona fide relationships with all stakeholders

These principles represent the priorities in the company's business and outline the area of responsibility of the management teams of the companies where the Renova Group is the shareholder. By promoting and implementing the principles of a socially responsible business through corporate governance mechanisms, the Renova Group of Companies is guided by the following basic objectives:

  • Striving to ensure positive change dynamics in economic, social and environmental activities of the company.
  • Legal compliance in countries of presence, compliance with industry norms, meeting other commitments by the Group and its individual companies.
  • Striving to meet or outperform the applicable average industry and regional criteria.
  • Enhancement of management practices on the grounds of international standards; development of the strategic planning system and a system to manage the risks of potential danger to economic sustainability, human lives and environment
  • Working in consultation with state authorities and civil institutions in the event of a conflict of interests while meetings strategic development objectives
  • Enhancing stakeholder awareness of the company's performance deliverables, inter alia, through making available non-financial reports.
  • Building up and managing public relations with regulatory authorities and the society.
  • Engagement of employees in shaping the pool of programs of social value and charitable initiatives to improve resource deployment efficiency and to meet strategic goals.
  • Building up corporate culture and competencies in compliance with social responsibility values, integration of responsible practices in corporate codes of conduct, standards, internal procedures, management employee assessment and motivation systems.

Renova Group of companies takes all steps necessary to integrate these principles into all management procedures in its companies through introducing standards and regulations and implementation of a consistent approach to change management and practice improvement. Renova Group monitors implementation of responsible practices every year and delivers a relevant report on its achievements to all stakeholders. The Groups aiming at the highest business responsibility standards is corroborated by its accession to the UN Global Compact.

Renova Group has and will continue to be actively involved in the development and improvement of the Social Charter of the Russian Business adopted by the Russian Union of Industrialists and Entrepreneurs (RSPP) and encourages the accession of companies and operations of the Group to this Charter. Renova Group of companies is an active participant of RSPP initiatives. It engages in international business councils and supports the projects of Delovaya Rossia (Business Russia) and Opora organizations.