Statutory Compliance

    TOPICS
  • 19
    Compliance with environmental laws
  • 35
    Statutory compliance in the economic and social field
GRI 103-1

WHY THESE TOPICS MATTER

Transneft Group considers creation of an ethical business environment an essential condition for the sustainability of business and for maintenance and development of mutually beneficial relations with business partners on the basis on fair, open, and ethical methods of cooperation, mutual respect, and meeting obligations and commitments. The fundamental principles of the Group’s activities include fairness and responsibility for business policies and conduct.
GRI 103-2

MANAGEMENT APPROACH

In carrying out its activities, Transneft Group is committed to a responsible attitude to compliance with Russian and international laws.

FINES AND NON-FINANCIAL PENALTIES

The monetary value of significant fines and limitations imposed against the Group for noncompliance with laws and regulations, including:

  • noncompliance with environmental laws and regulations (payment for a negative impact on the environment);
  • noncompliance with occupational safety laws and regulations;
  • noncompliance with the requirements to transportation;
  • noncompliance with construction requirements (including industrial safety);
  • noncompliance with fire safety requirements applicable to fuel and energy facilities, phytosanitary and veterinary supervision requirements, and health and disease control requirements;
  • noncompliance with labour and pension laws and regulations;
  • нviolations in the field of land use and water bodies’ use;
  • noncompliance with information disclosure and tax reporting laws and regulations, including claims from antitrust authorities.
GRI 103-3 307-1 419-1