Sustainability Risk Management

List of main risks in the field of sustainable development

Risks in the field of industrial safety, labor protection and the environment

At the Company’s facilities, there are risks associated with shutdowns of the technological process, releases of hazardous products, causing damage to the environment, accidents, fires and accidents, which in turn can lead to a shutdown of the Company’s production facilities.

Management and minimization of risks

To minimize these risks, an integrated safety management system has been created and is successfully functioning, the following measures are being taken:

  • targeted corporate programs in the field of industrial safety, labor protection and the environment;
  • production control over the operation of hazardous production facilities;
  • diagnostics (non-destructive testing) and monitoring of equipment parameters;
  • repair and timely replacement of equipment;
  • ensuring the implementation of requirements in the field of industrial safety, labor protection and the environment for contracting organizations at all stages of interaction with them;
  • developing leadership and a safety culture;
  • ensuring the qualifications of personnel at all levels;
  • special assessment of working conditions, improvement of working conditions for workers;
  • development of action plans for the localization and liquidation of the consequences of accidents at hazardous production facilities, plans for the elimination of oil and oil products spills, the formation of a reserve of forces and means for responding to emergency and emergency situations, the training of personnel serving the hazardous production facility, and emergency rescue teams to prevent and emergency response;
  • other measures to reduce accidents and injuries at work in the organizations of the Tatneft Group.

Climate Change Risks

Tighter regulation due to climate change and its physical consequences may adversely affect Tatneft’s activities as a major producer of fossil fuels and an issuer of greenhouse gases in the form of rising costs and reduced efficiency. In addition, PJSC Tatneft operates in various regions where the potential for physical impact from climate change is very unpredictable and can have a significant negative impact.

Management and minimization of risks
  • The company carries out accounting and planning of measures to control greenhouse gas emissions;
  • The Company constantly monitors changes in legislation in this area, takes measures to obtain information about such changes at the stage of their preliminary discussion, as well as for the participation of representatives of the Company in such discussions in order to clarify in detail the position of the Company regarding these issues, risks and uncertainties that bear new legislative initiatives;

Shortage of qualified personnel

Insufficient qualifications and professionalism of employees may adversely affect the financial results of the Company.

Management and minimization of risks
  • A talent pool has been created and is being replenished from among the most experienced and promising employees;
  • Young specialists and graduates of leading higher educational institutions are involved.

Goodwill Risks

PJSC TATNEFT faces various factors that may become reasons for the realization of the risk of loss of business reputation caused by internal and external factors, including: non-compliance with legal requirements, failure to fulfill contractual obligations, constituent and internal documents, unsatisfactory quality of finished products, and the formation of a negative view on the financial stability and financial position of the Company.

Management and minimization of risks

The company conducts work aimed at:

  • maintaining regular contact with stakeholders;
  • providing timely and objective information on financial and production performance indicators;
  • ensuring continuous monitoring of compliance with legal requirements, existing agreements;
  • ensuring timely settlements with counterparties.

The company provides quality control of products and services. A Hotline has been organized to respond in a timely manner to comments and suggestions on the operation of gas stations.

Much attention is paid to safety and environmental issues. The company in its work is guided by the highest standards in the field of industrial safety, labor protection and the environment.

The company attaches great importance to the organization of working conditions and social responsibility. Programs are being implemented aimed at maintaining and improving an effective system of labor protection and social protection.

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