The main principles of the Gazprom Group’s stakeholder engagement are inclusivity, materiality, impact, and responsivenessAs set out in the internationally recognized AA1000 ACCOUNTABILITY PRINCIPLES (AA1000AP, 2018) and AA1000 Stakeholder Engagement Standard (AA1000SES, 2015).
Taking into account Gazprom’s stakeholders’ points of view as to the significance and impact of a particular matter in order to enable the Group to develop an expedient and commensurate response method.
Identifying and ranking relevant and significant matters and underlying factors that make an impact on Gazprom and its stakeholders.
Monitoring, measuring and assessing the impact of Gazprom’s principles, activities and results of operations on the economy, environment, society, stakeholders and the Group itself.
Taking into account material topics and corresponding impacts in making decisions, taking actions and planning day-to-day operations of the Gazprom Group (including communications).
The results of the survey conducted among the Task Force members formed the basis for the stakeholder mapping that shows: (1) the degree to which the Company’s operations impact stakeholders’ decisions and actions and (2) the degree to which stakeholders’ decisions and actions impact the Company’s operations. The Task Force members ranked both indicators on a three-point scale from 1.0 (low level) to 3.0 (high level) based on their own experience and competencies. The survey covered 24 people.
Deputy Head of Department — Head of Directorate; responsible for shaping and implementing the investor relations strategy of PJSC Gazprom, collects investor feedback and articulates the Company’s approaches to sustainable development.Stakeholder Engagement
In implementing its information policy, PJSC Gazprom is guided by the principles of regularity, prompt disclosure, accessibility, reliability, completeness, balance, neutrality, and security.
Concept and Principles of Information Disclosure
Information disclosure means ensuring that information is available to an unlimited number of individuals or entities (shareholders, investors, organizations acting as regulators of relevant markets, government authorities, mass media, and other stakeholders).
The key principles of information disclosure concerning the Company’s activities are: regularity and promptness, accessibility, reliability and completeness, balance and neutrality, and security.
- The principle of regularity and promptness means the disclosure of information about material events and facts concerning the Company’s activities on a regular basis and in the shortest possible time.
- The principle of accessibility means the use of channels and ways of disseminating information about the Company that give shareholders and other stakeholders free and non-discriminatory access to the information disclosed. Copies of documents are provided upon request to shareholders and other persons/entities authorized to their receipt in line with the current laws of the Russian Federation for a fee not exceeding the costs incurred by the Company to make such copies.
- The principle of reliability and completeness means the provision of reliable information about the Company’s activities sufficient to provide an unbiased view of the issue in question and to make managerial and investment decisions.
- The principle of balance means the Company’s commitment to observe a reasonable balance between the Company’s transparency and the protection of its commercial interests.
- The principle of neutrality means that the Company creates an environment that excludes the possibility of giving any of its shareholders or investors preferential access to the information about the Company’s activities.
- The principle of security means that the Company applies each and every organizational, legal and technical measure and tool permitted by Russian laws to protect the information constituting state and trade secrets, as well as insider information.
The main channels to inform stakeholders are press releases and press trips, responses to media requests, press conferences and media scrums, publications on the official website and social media. In 2020, amid the lockdown restrictions, the communication with media representatives continued across all the traditional formats, with the exception of public meetings, such as press conferences and press trips.
In June 2020, PJSC Gazprom launched its official Telegram channel for a broad audience of stakeholders.
Documents governing PJSC Gazprom’s information disclosure:
- Regulation on Disclosure of Information by PJSC GazpromApproved by resolution of the PJSC Gazprom Board of Directors No. 2921 dated March 29, 2017 (as amended by resolution of the PJSC Gazprom Board of Directors No. 3152 dated August 22, 2018);
- order of OJSC Gazprom No. 12 dated February 4, 2002 “On Approval of the Regulation on the Procedure for the Preparation of Information Materials for the Media and their Submission to the Media”As amended by orders of OJSC Gazprom No. 20 dated February 25, 2005, and No. 202 dated July 7, 2009;
- order of PJSC Gazprom No. 764 dated November 20, 2017 “On Arranging Information Disclosure by Way of Messaging at PJSC Gazprom”As amended by orders of PJSC Gazprom No. 415 dated July 17, 2018, and No. 476 dated October 23, 2019.
In order to ensure efficient interaction between employees and managers at the Gazprom Group, corporate communications are in place, such as intranet portals and information-and-reference systems, including corporate ones, hot lines, e-mail newsletters, and videoconferences with remote corporate units. The Group has corporate media: 64 newspapers and 5 magazines, 1 TV program, 3 in-house TV channels, 2 radio stations, and 1 corporate online media outlet.
In 2020, ESG surveys among major shareholders and investors were held with assistance from The Bank of New York Mellon – the issuing bank of American depositary receipts (ADRs) for PJSC Gazprom’s shares.
The information obtained in the management’s communications with shareholders and investors across various formats was submitted to the PJSC Gazprom Board of Directors as part of the materials prepared on the agenda item “On the outcomes of the measures to streamline the relationship with the shareholders and investors of Gazprom”Minutes of PJSC Gazprom Board of Directors’ meeting No. 1344 dated December 24, 2020, agenda item No. 1. It is also taken into account in the preparation of activities aimed at further enhancing the Company’s corporate governance.
The system of stakeholder engagement at the Gazprom Group
|Stakeholder Groups||Corporate units / Bodies Responsible for Engagement||Engagement Mechanisms||Examples of Engagement in 2020|
|Government and local authoritiesя|
|Foreign regulators of energy markets|
|NGOs and educational institutions|
1 Established by order of OJSC Gazprom No. 292 dated November 17, 2008.
2 Approved by order of PJSC Gazprom No. 124 dated March 25, 2019.
3 In line with the recommendations of the Bank of Russia’s Corporate Governance Code approved by the Bank of Russia’s Board of Directors (Letter No. 06-2/2463 dated April 10, 2014).
4 Approved by the conference of employees of OJSC Gazprom and its subsidiaries on November 23, 2012; extended in 2018 for the 2019–2021 period.
Head of PR and Media Relations Division, PJSC MOEK; in cooperation with his colleagues, has successfully implemented a project for streamlining stakeholder outreach on social media, which made it possible to respond to consumer queries in real time, promptly inform customers about technical failures and the progress of repairs, and communicate with debtors and communities across the Company’s areas of operation.Stakeholder Engagement Formats
In the reporting year, the requests from stakeholders (including the media and investment community) were received on the following topics:
Topics and concerns raised by stakeholders
- Impact of the epidemiological situation on business processes (measures taken by Gazprom to ensure reliable energy supplies to consumers and protect employees amid the pandemic)
- Risks of further expansion of sanctions against Gazprom, its subsidiaries and organizations, and specific projects
- Risks of increasing tax burden
- Composition of the Gazprom Board of Directors
- Unfavourable environment in the global oil and gas market and measures taken by the management in response to it
- Hydrogen energy development outlook
- Strengthening competition in the European gas market, possible reduction of the Gazprom Group’s sales in Europe
- The Company’s strategy against the backdrop of the global climate agenda evolution
For more details on the Gazprom Group’s actions taken to combat COVID-19, see Section Response to COVID-19 Pandemic and its Consequences
For more information on expanding gas infrastructure across Russian regions, see Subsection Gas Infrastructure Expansion in Russian Regions
For more information on hydrogen energy, see Section Climate Protection Measures
In the course of the preparation of the 2020 Report, remote public consultations were held to make sure that the information disclosed is relevant for stakeholders. A total of 15 representatives of stakeholders took part in the consultations. In the course of the public consultations, 101 comments were received, including 41 suggestions to include additional information in the Report and 54 follow-up questions on the information provided in the Report. As part of the consultation process, representatives of stakeholders were given explanations on 62 comments, with another 21 comments reflected directly in the Report. 17 comments received will be handled by the Task Force for the Report preparation at its meeting in the following reporting period.
For the table of questions and recommendations from stakeholders based on the public consultations on the Report for 2019, see Appendix