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Segezha Group BOD approves its Sustainability Strategy and ESG Policy

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Segezha Group BOD approves its Sustainability Strategy and ESG Policy

April 06, 2021 - 04:14
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MOSCOW, April 5, 2021 (Press Release) -Segezha Group (the “Company” or the “Group”), a subsidiary of Sistema PJSFC and a leading Russian vertically integrated holding company in the forest industry performing a full cycle of operations from logging to advanced wood processing, announces that the Board of Directors approved the Group’s Sustainability Strategy as well as an ESG Policy during the meeting that took place on March 31.

Segezha’s new Sustainability Strategy is based on four pillars: innovative forest business; making Russia’s forest regions a better place to live; climate-smart forest management and production; and responsible forest supply chain.

Select goals identified under the Sustainability Strategy include development of a carbon emissions reduction strategy based on Science Based Targets; targeting that 100% of leased timber land is FSC and/or PEFC certified; funding 50% of capex with green financing; and full voluntary certification of the Company’s supply chain to ensure compliance with principles of responsibility, inclusivity and resilience.

Segezha Group is taking a number of steps to ensure its ESG disclosure and performance are aligned with internationally recognised practices. Earlier this month, the Group joined the UN Global Compact, the world’s largest corporate sustainability initiative, which provides a framework for developing more sustainable and responsible businesses.

Segezha Group is a Russian vertically integrated wood processing and pulp and paper holding company, with facilities in 11 countries and more than 13,000 employees. The Company exports its products to more than 100 markets worldwide. As of December 31, 2020, Segezha Group holds leased forest resources totalling 8.1 million hectares, of which 83% (6.72 million hectares) has achieved forest management certification from the Forestry Stewardship Council (FSC).