Corporate governance framework

Corporate governance principles

PhosAgro’s corporate governance principles, structure, practices and procedures are set forth in its Charter and Corporate Governance Code.

Provisions of the Company’s Corporate Governance Code do not contradict the Corporate Governance Code recommended by the Bank of Russia’s Letter dated 10 April 2014 (the “CGC”) and the UK Corporate Governance Code (UK CGC, FRC, 2024).

Basic principles of PhosAgro’s corporate governance:

Accountability of management bodies
Transparency of operations
Equal rights of shareholders
Responsibility to society, the state, and stakeholders

For the full text of PhosAgro’s Charter, please visit our website

For the full text of PhosAgro’s Corporate Governance Code, please visit our website

Sustainable development governance

GRI 2‑12, 2‑13

Our governance framework for sustainable development (SD) relies on a number of internal and external drivers.

Internal drivers

The Company’s mission and values supported by our Corporate Strategy.

External drivers

Regulations and stakeholder expectations.

2024 initiatives

GRI 2‑14

1

Documentation support

  • A transparency statement under the UK Modern Slavery Act (as amended) approved
2

Business processes and organisation

  • Comprehensive regulations on interaction in preparing non‑financial reporting updated
  • Regulations on interaction in calculating and verifying the carbon footprint of products (including for the CBAM Carbon Border Adjustment Mechanism. purposes) developed
  • International and national certificates of compliance with the ISO 9001, ISO 14001, ISO 45001, GMP+, GOST R 51705.1 (HACCP) and Qualidade ABNT Ambiental standards confirmed
  • Establishment of a non‑financial reporting section within the Economics Department of JSC Apatit approved
  • An energy management service created to improve the management of energy consumption
3

Project management

  • List and coverage of sustainability key performance indicators (KPIs) expanded
  • Coverage of the automated supplier ESG assessment system expanded
  • Implementation of ESG supplier assessment criteria harmonised by ESG Alliance commenced
4

IT

  • Automation of a number of GRI indicators and the Methodological Recommendations of the Russian Ministry of Economic Development based on data from the Company’s accounting systems continued
  • The products’ carbon footprint (including for the CBAM purposes) calculated through the adaptation of the Company’s existing automated accounting system verified successfully
5

Competencies and people

  • Participating in major international and Russian events and initiatives hosted by the RSPP, ESG Alliance, UN Global Compact, UN FCCC, etc.
6

Performance review and reporting

  • The integrated annual report procedure updated and approved
  • Sustainability initiatives developed based on the analysis of external ESG assessment tools
  • Reporting to the Strategy and Sustainable Development Committee put in place based on the monitoring of the Company’s sustainability projects
  • Integration of the GRI, CDP, IFRS, SASB, Bank of Russia, and Ministry of Economic Development recommendations into non‑financial reporting continued
  • Non‑financial reporting publicly verified by the Expert Council of the RSPP