Approach to Stakeholder Engagement
GRI: 2-29
Expert RA recognises the importance of maintaining an open and transparent dialogue with all stakeholders. The Agency’s key stakeholders are those who are fully dependent upon and/or influence its business activities. Regular interaction with various internal and external stakeholders is at the heart of Expert RA’s business and is consistent with the principles of transparent communication and mutual respect. It also facilitates cooperation, open discussion and knowledge sharing.
Importance of interacting with stakeholders
Expert RA appreciates the stakeholders’ experience, willingness to cooperate, reputation, spheres of influence, and the ability to scale up and accelerate progress.
Each business unit of the Agency is involved in interaction with stakeholders in areas that best correspond to its functionality and competency.
Stakeholders and Stakeholder Engagement
Stakeholders | What they look for | Stakeholder relationships |
|---|---|---|
Customers | Credit, non-credit and ESG-oriented products; openness to dialogue and cooperation, information security, responsible fulfilment of financial obligations, long-term cooperation, reasonable price-quality tradeoff | Independent rating of the entities, disclosing rating information on the Expert RA’s corporate website. The Expert RA Cup annual charity mini football tournament, held for the Agency’s customers |
Employees | Stable employment, fair wages and social security, access to training and development, gender balance, compliance with business ethics and anti-corruption rules, ability to receive open information and feedback, comfortable and safe working environment, career opportunities | Intra-corporate website, training opportunities (training programmes, professional development), newsletters, personal meetings with management, a hotline, voluntary health insurance, surveys, feedback. The ESG / sustainable development webinar for the Agency employees |
Shareholders | Agency stability, availability of financial performance data, development strategy, information transparency, effectiveness of investments, information security, compliance with business ethics and anti-corruption rules | General shareholders meetings, information disclosure, regular meetings and contacts between the management and the shareholders and their representatives, presentations, personal meetings |
Financial Market Infrastructure Participants | Participation in councils, working groups, professional communities and market development initiatives, openness to dialogue and cooperation, long-term partnerships, the give-and-take relationships | Cooperation agreements, conferences, round tables, meetings, joint programmes and research, membership in different organisations and associations, public speaking, participation in events held by different organisations and associations (such as Moscow Exchange), information disclosure |
Government Authorities | Compliance with legislation, contribution to the development / assistance in the development of the financial sector, timely payment of taxes and levies | Participation in meetings and working groups held by federal and regional government bodies, in different conferences and the State Duma committees |
Regulatory Authorities | Compliance with the rating laws | Interaction with the Bank of Russia regarding compliance by the Agency and its employees with the requirements of the Russian laws, including regulations of the Bank of Russia. |
Mass Media | Ensuring information openness and feedback on various events | Preparation of articles, columns and comments on current issues, including the ESG agenda |
Expert RA’s Stakeholder Relationship Practices
The ESG / sustainable development webinar for the Agency employees
In 2023, the Agency organised for its employees an internal webinar: “What are ESG and sustainable development? The Agency’s role”. The webinar introduced attendees to the basic concepts of sustainable development and ESG and explained what the Agency is doing in this area and what plans the Agency has in the medium term.
Expert RA’s ESG Rating Methodology has been approved by the ESG Alliance
At the end of December 2023, the Agency released a new version of its ESG Rating Methodology, updated with account of the Bank of Russia’s recent recommendations (of July 2023). In the course of revising this document, the ESG-Alliance member companies provided Expert RA with their consolidated proposals, which for the most part have been accepted by the Agency and incorporated into the updated version.
Cooperation with CCX Green Finance in the field of sustainable development
On 14 June 2023, a ceremony was held to sign a Memorandum of cooperation between two rating agencies, Expert RA and China Chengxin Green Finance Technology (Beijing) Co., Ltd (CCX Green Finance). The memorandum envisages experience exchange and interaction between the parties, including as it relates to multilateral global information support for the “One Belt – One Road” projects, with a view to increasing their transparency and recognition among investors, partners, government agencies and the public.
Participation in the conference on the development of the “One
On 20 December 2023, a live conference on the progress of the “One