Social responsibility and sustainable activities
Management of sustainable development
Considering the Sustainable Development Goals, the Group’s strategy has been shaped to be resilient to various scenarios. In strategic planning, we take into account risks and opportunities related to climate change and the uncertainty of the regulative and investment environment.
The Group conducted organisational changes and now focuses fully on the implementation of the strategy and the underlying goals, including that of sustainability. The responsible use and effective enrichment of natural resources is an integral part of our sustainability strategy. We understand that the extraction and production of any mineral resource has an impact on the surrounding environment and therefore we always strive to do more than prescribed by laws or regulations.
While focusing on VKG’s core activity – the production of shale oil – we also continue the development of circular economy, renewable energy parks and bioproduction projects. New business verticals support the principles of sustainability and are aimed at mitigating and resolving various green challenges.
In September 2015, the world’s countries signed the 2030 Agenda for Sustainable Development and its 17 Sustainable Development Goals at the UN General Assembly. Viru Keemia Grupp has selected eight high-priority areas on which we focus and to which we consistently contribute. These are: ‘Good Health and Well-being’, ‘Quality Education’, ‘Affordable and Clean Energy’, ‘Decent Work and Economic Growth’, ‘Industry, Innovation and Infrastructure’, ‘Responsible Consumption and Production’, and ‘Climate Action’. VKG is working towards contributing to the achievement of the established goals not only within the framework of its core activities, but also by supporting and participating in regional projects and initiatives aimed at improving the quality of life and developing science and education, culture and environmental protection.
Cooperation with stakeholders
The Group has mapped stakeholder groups whose interests are notably related to our activities and may have a noticeable effect on the implementation of our strategic objectives. We place particular importance on the engagement of the local community in the case of development projects. In order to keep the community up to date, we not only hold public discussions, but also organise non-formal meetings where we discuss topical matters of the day and gather feedback and opinions from the representatives of the community with regard to this or that topic/matter.
VKG’s main stakeholder groups are the shareholders, clients, suppliers and partners, the state and the local governments, the local community, NGOs and citizens’ associations, and professional unions. For cooperating with the stakeholder groups, we have developed various formats from regular meetings to open-doors events. Cooperation wits stakeholders is based on the principles of respecting the interests of the parties, constructive cooperation, the transparency of the information concerning the Group’s activities, the regularity of acting together, and fulfilling obligations.
The Group is a good partner to local organisations that help promote the region’s culture, sports and education. Our particular focus is on the local youth. In 2023, the Group supported nearly 40 local initiatives and events with nearly 240,000 euros. For years, we support the Maternity and Paediatric Department of the Ida-Viru Central Hospital instead of making business presents. Twice and year, we tidy up the city in the framework of the Let’s Do It and the World Cleanup Day, to which we engage our employees, their family members and the upper-secondary schools of the region. The Group is a long-term partner to blood centres and we hold donor days in our production territory four times a year. In 2023, 63 litres of donor blood was given. We also promote an active lifestyle among our employees and invested 50,000 euros in supporting it.
Organisation culture
For a large industrial enterprise, the integration of organisation culture with the principles of responsible business is of utmost importance. VKG’s organisation culture supports the Group’s values and strategic objectives. We believe that organisation culture is important from the viewpoint of a company’s success and sustainability and helps create a safe and inspiring working environment.
We constantly contribute to a strong organisation culture, because this:
- emphasises ethical behaviour and honesty in all activities and relationships with employees, partners and stakeholder groups;
- encourages cooperation and teamwork, promoting open communication, exchange of knowledge, and collective responsibility;
- supports the employees’ development and learning, offering training, mentorship and career opportunities;
- creates a positive working environment where employees feel motivated and involved, encouraging them to think along and provide honest feedback;
- encourages flexibility and improves adaptability, allowing the company to rapidly respond to changing market conditions and the needs of clients.
VKG’s values – openness, commitment, development – are integral parts of our business activities and consolidate the interests of the Group and the employees. The values guide our decision-making, shape our reputation and determine our work principles.
Reporting
VKG has been preparing and publishing its Social Responsibility and Sustainable Development Report since 2008. The report is a public document available electronically on the Group’s homepage in Estonian, English and Russian. The Social Responsibility and Sustainable Development Report for 2022 and 2023 is currently being prepared and will be published in the third quarter of 2024. The report is prepared in accordance with the Global Reporting Initiative (GRI) Principles for Sustainable Development Reporting (GRI Reporting Guidelines) and the respective parts of the GRI Oil and Gas Industry Guidance on Voluntary Sustainability Reporting. In preparing the report, we also use ISO certification materials. The environmental and occupational safety data are in accordance with the requirements established in the standards.
In addition to the Social Responsibility and Sustainable Development Report, VKG must prepare a sustainability report in accordance with Directive (EU) 2022/2464. The first such report will be published in 2026. As it is a large-scale work process, preparation for its development are already underway.