RUEN
2019 Interactive Sustainability Report

Sustainable development context

Energy is a key source of achievement of the UN's social and economic Sustainable Development Goals.

The company is one of the leaders in the fuel and energy complex of the Russian Federation and is aware of the nature and scale of the impact of its activities, correlates them with the importance of rational use of natural resources, ensuring safe working conditions, protecting the health of personnel employed in all business segments and the population living in the regions activities of TATNEFT Group organizations, as well as preservation of a favorable environment and reduction of climate risks.

Tatneft takes into account the fundamental factors of development - the expectation of about 25% growth in global energy demand by 2040 with the preservation of the importance of hydrocarbon resources with a change in the energy balance towards less carbon-intensive fuels and the development of new economically viable energy sources, the development of oil and gas processing and petrochemicals with a high level of environmental planning. These factors influence the global economy and the oil and gas industry, shaping the transition to a new energy infrastructure. 

The World Economic Forum's 2020 Global Risks Report (https://www.weforum.org/reports/the-global-risks-report-2020), published in January 2020, identifies the global complex challenges for economic , ecological and social systems requiring measures to ensure sustainable development. The report points to the need for policymakers to align their goals to protect the Earth with those tostimulate the economy, and for companies to avoid the risk of potentially catastrophic losses in the future by adjusting for evidence-based targets.

Attention is focused on five major global risks related to the environment:

  • Extreme weather events with serious material damage, infrastructure and loss of life.
  • Failure of government and business to take action to mitigate and adapt to climate change.
  • Man-made environmental damage and disasters, including environmental crimes such as oil spills and radioactive contamination.
  • Substantial loss of biodiversity and collapse of ecosystems (terrestrial or marine) with irreversible consequences for the environment, as a result of which the resources of humanity and industry are severely depleted.
  • Major natural disasters such as earthquakes, tsunamis, volcanic eruptions and geomagnetic storms.

The report focuses on the impact of growing inequalities, technology governance gaps and pressures on health systems.

"In 2020, world leaders must work with all sectors of society to rebuild and revitalize our collaborative systems, not only for short-term gain, but also to address our deep-seated risks."

Børge Brende
PresidentWorld Economic Forum

The Global Risk Report is part of the Global Risk Initiative, which brings together stakeholders to develop sustainable, integrated solutions to the world's most pressing problems.

“Investors, regulators, customers and employees are putting increasing pressure on companies to demonstrate their resilience to growing climate variability. Scientific advances mean climate risks can now be modeled more accurately and incorporated into risk management and business plans at the same time they also face significant geopolitical and cyber risk challenges. ”

John Drzik
 Chairman of Marsh & McLennan Insights