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Fathers and Sons: ESG Issues and the Generation Gap
22 January 2020
13:30—14:30
KEY CONCLUSIONS
Achieving ESG goals (environmental, social and governance factors in managing a business) and Sustainable Development Goals (SDG) are a common cause for all generations

The objective of the new generation is to escalate matters – the ESG in our case. The task for those who are currently managing the process is to organize a reasonable implementation of those messages to the future the young people are spelling out — Aleksey Kozlov, Managing Director, SIBUR.

We need a dialogue among generations. The SDG is a common awareness. It is a society of conscience. It is a common cause for all generations — Cardinal Peter Kodwo Appiah Turkson, Dicastery for Promoting Integral Human Development.

If we are talking about the ESG, it is important for the process to involve not just shareholders, but users, regulators, and governments as well — Greg Abovsky, Operating and Financial Officer, Yandex.

Five key reports of the World Economic Forum are related to environmental issues — Alexander Ivlev, CIS Managing Partner, Deputy Regional Accounts Leader for Central, Eastern and Southeastern Europe & Central Asia, EY.

Russian needs to become one of the drivers for reaching the SDG

It is impossible to reach the SDG without Russia. We sell the world’s purest phosphorus, pushing the whole industry to change for the better, so that cadmium from fertilizers does not get on our children's plates or contaminate soil and water. This allows us to sell ourselves as an environmentally friendly fertilizer producer, forming a Russian brand of healthy and environmentally friendly food — Andrey Guryev, Chief Executive Officer, Chairman of the Management Board, PhosAgro .

Russian companies have a chance to stand out in terms of ESG. The G – corporate governance – has long been of great importance for Russian companies. Improved governance after the 1998 crisis played the role of an investment multiplier and had a huge effect. Adherence to ESG principles creates a basis for higher appreciation of Russian companies — Alexei Yakovitsky, Global Chief Executive Officer, VTB Capital .

Russia’s leading companies already stick to the SDG

Leading companies are already focused on sticking to the CSD — Andrey Guryev, Chief Executive Officer, Chairman of the Management Board, PhosAgro .

ESG issues are addressed at all levels by all companies — Christoph Schweizer, Managing Director, Senior Partner; Chairman, Central and Eastern Europe and Middle East, BCG.

Our company has reduced gas emissions. We have digitized all of its sources and manage them. Our practice can be adopted by other companies — Aleksey Kozlov, Managing Director, SIBUR.

Consumers support ESG and SDG through their demand

Consumers are willing to pay for properly produced goods in the food and cosmetics markets — Christoph Schweizer, Managing Director, Senior Partner; Chairman, Central and Eastern Europe and Middle East, BCG.

People start investing in healthy lifestyles, focusing on healthy eating. This is not a reaction to advertising, but a conscious reorientation through information technology — Alexander Ivlev, CIS Managing Partner, Deputy Regional Accounts Leader for Central, Eastern and Southeastern Europe & Central Asia, EY.

ISSUES
Discussion of SDG and ESG makes real social and economic problems fade

I support a balanced approach to sustainable development. We need to stop the rabid criticism that happening in the world today. The SDG is the continuation of economic growth, but it is also anthropogenesis – it is what we leave behind. We need to start tackling these problems in a creative way — Andrey Guryev, Chief Executive Officer, Chairman of the Management Board, PhosAgro .

The next 20 years is + 2 billion people and +60% of food to what we now produce. We should think how to solve this issue — Andrey Guryev, Chief Executive Officer, Chairman of the Management Board, PhosAgro .

The need to address SDG and ESG issues is still not truly universally recognized

Some business leaders continue to just talk and do nothing to achieve the SDG — Brian Pallas, Founder, Chairman of the Management Board, Chief Executive Officer, Opportunity Network.

We are way behind in what needs to be done on SDG. All of us – business, consumers, and legislators – are all responsible for this — Brian Pallas, Founder, Chairman of the Management Board, Chief Executive Officer, Opportunity Network.

SOLUTIONS
To promote ESG ideas among company executives as a crucial element of their success and the future of their business

Hundreds of studies say ESG has a positive impact on value creation. This is the path companies should follow — Christoph Schweizer, Managing Director, Senior Partner; Chairman, Central and Eastern Europe and Middle East, BCG.

The topic of ESG emerged three years ago as a controversial element, and now it has become a significant factor in terms of raising capital in a company, an investment multiplier, because more and more foreign investors include ESG in their investment analysis. Russian companies, including those involved in the natural resources segment, cannot but address this in their activities — Alexei Yakovitsky, Global Chief Executive Officer, VTB Capital .

We are moving towards making money through ESG. Companies that incorporate ESG into their strategy gain a competitive advantage that will be translated into higher capitalization — Alexei Yakovitsky, Global Chief Executive Officer, VTB Capital .

Focusing common efforts on specific ESG issues

We need specific, constructive cases — Thomas Blackwell, Chief Executive Officer, Co-Founder, EM.

We are now focusing on the final stage of waste disposal. Once this problem is resolved, society will be able to see the problem of synthetic materials differently, because it is our future. It is a significant saving of our resources — Aleksey Kozlov, Managing Director, SIBUR.

Push governments to sign the hydrocarbon tax agreement

A carbon tax is the most effective way to reduce emissions, but it takes all governments to agree upon it — Brian Pallas, Founder, Chairman of the Management Board, Chief Executive Officer, Opportunity Network.

Enhance the role of science and education in promoting SDG and ESG

Science is of great importance in everything that concerns the application of the young generation’s ideas. It is important for the scientific community to pick up these trends — Aleksey Kozlov, Managing Director, SIBUR.

For seven years, our company has been implementing programmes of education and training – from schools to universities – and employment — Andrey Guryev, Chief Executive Officer, Chairman of the Management Board, PhosAgro .