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    ROSN   US67812M2070

ROSNEFT OIL COMPANY

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ROSNEFT OIL COMPANY: Rosneft and SPIMEX sign an agreement on cooperation in the development of exchange trading in carbon units

01/18/2022 | 07:42am EDT

ROSNEFT OIL COMPANY (ROSN)
ROSNEFT OIL COMPANY: Rosneft and SPIMEX sign an agreement on cooperation in the development of exchange trading in carbon units

18-Jan-2022 / 15:40 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


Rosneft and SPIMEX sign an agreement on cooperation in the development of exchange trading in carbon units

 

Rosneft and St. Petersburg International Mercantile Exchange (SPIMEX) signed a Cooperation Agreement. The document was signed by Rosneft Chief Executive Officer Igor Sechin and SPIMEX President Alexei Rybnikov.

The Agreement provides for cooperation between the parties in the area of carbon management and development of exchange trade in carbon units resulting from the implementation by Rosneft of projects to reduce greenhouse gas emissions.

As part of cooperation, the Company and SPIMEX will explore an opportunity of holding test auctions of Rosneft carbon units. The Agreement provides for development and introduction of new tools for exchange trading in low-carbon oil and petroleum products. In addition, the Company and the Exchange will work together to create a Russian benchmark for hydrocarbons (oil, petroleum products, natural gas, LNG) with low carbon intensity. 

The Agreement will help achieve the Net Zero goal by 2050, which is enshrined in the new strategy Rosneft-2030. The Company highly appreciates the prospects of the carbon market and intends to actively participate in the development of the Russian exchange trading mechanism.

Reference:

Rosneft is a member of the UN Global Compact, thus confirming its commitment to the highest principles of sustainable development. Detailed information about Rosneft's ESG activities is published annually in its sustainability reports.

In December 2021, the Company presented a new development strategy - "Rosneft-2030: Reliable Energy and the Global Energy Transition",  which takes into account current trends related to the climate agenda and the global energy transition, as well as the need for reliable supplies of affordable and clean energy. As part of the Strategy, Rosneft aims to achieve Net Zero by 2050 for Scope 1 and Scope 2 emissions. This goal will be achieved through implementing a number of strategic initiatives, including: reduction of greenhouse gas emissions, achieving zero routine flaring of associated petroleum gas and reducing the intensity of methane emissions to less than 0.2% by 2030, gradual conversion of the Company's own vehicles to low-carbon fuels, etc.

The Company is developing cooperation with foreign partners in the area of carbon management and sustainable development. Rosneft has cooperation agreements in place with BP, Baker Hughes, ExxonMobil, Equinor, and the Japanese Ministry of Economy, Trade and Industry (METI) to support its long-term emission reduction goals.

The global investment community, which views socially responsible investing as a long-term trend, highly commends the Company's activity. In 2021, Rosneft became the only Russian oil and gas corporation to be recognized as a leader in sustainable development and included in the Global Compact LEAD initiative for its lasting commitment to the UN Global Compact and the Ten Principles of Responsible Business.

FTSE Russell, a division of the London Stock Exchange, confirmed that Rosneft is included in the FTSE4Good Index Series. Rosneft was recognized as the best Russian oil and gas company in a number of international ESG ratings - RAEX-Europe, Bloomberg. The Company became one of the leaders among global oil and gas companies taking part in the international CDP (Carbon Disclosure Project) climate rating.  Following an independent assessment, Rosneft was assigned a category "B" rating, which is a level higher than the average global climate rating of the participants.

St. Petersburg International Mercantile Exchange (SPIMEX) is the largest commodity exchange in Russia and organizes exchange trading in the markets of petroleum products, oil, gas, LPG, timber and construction materials, mineral fertilizers, as well as in the futures market. SPIMEX is aimed at creating a transparent pricing mechanism for Russian commodities. The exchange was founded in May 2008.

Rosneft Information Division

Tel.: + 7 (499) 517-88-97

January 18, 2022

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.



ISIN: US67812M2070, RU000A0J2Q06
Category Code: MSCM
TIDM: ROSN
LEI Code: 253400JT3MQWNDKMJE44
Sequence No.: 137343
EQS News ID: 1269990

 
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