Regular Meeting of the TATNEFT’S Board of Directors Was Held

The results of the budget execution for two months of 2021 were considered at the meeting, and the budget for the second quarter of the current year was approved.

The Board of Directors approved and rendered effective the Environmental Program of TATNEFT Group for 2021 - 2025. A unified comprehensive program was formed for the first time, covering all business areas of the TATNEFT Group’s activity. The Company plans to reduce emissions of greenhouse gases into the air, water consumption, waste generation, as well as increase the volume of APG utilization.

The Board of Directors approved the areas for the implementation of the 12th goal of the SDGs "Responsible Consumption and Production", where the Company's efforts are focused on improving resource and energy efficiency, rational use of natural resources, introduction of green technologies, reduction of environmental impact, as well as introduction of sustainable and responsible production taken as a whole. The principles described for sustainable development were initially laid down in the design and construction of the TANECO Complex, where technologies were introduced to reduce the resource and energy consumption, reduce greenhouse gas emissions and reduce the carbon footprint of manufactured products. This experience will be replicated across all TATNEFT businesses areas.

For the sake of reducing the impact on the environment, the work is underway with stakeholders. The results of this activity, inter alia, include tailoring of uniforms for the players of the Kazan ice hockey club "Ak Bars" from recycled plastic; organization of collection for further processing of used oils, tyres, plastic waste in the network of TATNEFT’s filling stations, etc.

The Board of Directors approved the preventive measure results aimed at combating corruption in PJSC TATNEFT. The work in this area is intentionally carried out on the basis of the relevant internal corporate regulatory documents. The control over the implementation of existing regulations will be strengthened for the sake of improving the measures for the prevention and combating the corruption.

The Board of Directors got acquainted with the social policy implemented by the Company. Social projects of TATNEFT support national ideas in the field of human capital development and comfortable living within the framework of the Global Compact. When making decisions, the tasks of preserving the environment, improving social infrastructure, expanding innovative opportunities, economic growth and improving the quality of life in the territories of the TATNEFT Group enterprises are taken into account.

To increase the efficiency of social investments, it is planned to centralize the management of social programs and expenditures; introduce a methodology for the selection of social initiatives for the implementation based on goal-setting, long-term planning, performance evaluation, etc. together with regional and municipal authorities moving on to the implementation of comprehensive plans for the development of territories.

The Board of Directors adopted recommendations for the general meeting of the shareholders of PJSC TATNEFT named after V.D. Shashin to approve JSC PricewaterhouseCoopers Audit (JSC PricewaterhouseCoopers Audit) as the auditor for the statutory audit of the Company’s annual financial statements for 2021.

There were several other issues  also discussed at the meeting. 

Forward-looking Statements and Disclaimers: This press release contains certain statements regarding future events and expectations, which are forward-looking statements in nature. Any statement in this press release that is not a historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ materially. PJSC TATNEFT shall assume no obligation to update such forecasts to reflect actual results, changes in assumptions or changes in factors affecting these statements. The amounts and the interest money indicated or referenced in this press release may be given taking into account the rounding and, accordingly, they may differ from the actual figures and results contained in the company's reporting documents. PJSC TATNEFT shall assume no obligation to adjust or reimburse any amounts that may make the difference between those specified in this press release and the relevant reporting documents, and all payments shall made by PJSC TATNEFT exclusively in accordance with the decisions of the competent Company’s management bodies in the amount and manner specified in such decisions.