NIS has presented the Report on Sustainable Development for 2015

June 29, 2016

In the presentation of the report participated Kirill Kravchenko, NIS CEO, Stephen Fish, a partner in the audit firm Ernst & Young, Irena Sollorano, permanent representative of the United Nations Development Programme in Serbia (UNDP) and Ana Trbović, professor at the Faculty of Economics, Finance and Administration In addition to being the first company in Serbia to publish a verified Sustainable Development Report, NIS continued to improve the transparency of reporting in this area in 2015, so the number of indicators has increased from 69 to 80. The report was verified by the independent auditing firm Ernst & Young in Serbia and it was traditionally presented at the dialogue of stakeholders, attended, besides Kirill Kravchenko, NIS CEO, also by Stephen Fish, a partner in the audit firm Ernst & Young, Irena Sollorano, permanent representative of the United Nations Development Programme in Serbia (UNDP) and Ana Trbović, professor at the Faculty of Economics, Finance and Administration (FEFA) in Belgrade. Presentation of the Sustainable Development Report of NIS The emphasis in the Sustainable Development Report for 2015 is on what NIS achieved in implementing the HSE policy, i.e. in the area of health and safety at work and environmental protection. NIS has also declared 2016 as the year of HSE at the company, indicating that the issues in this area are an absolute priority in the business. This is why, after an introductory discussion, a panel was held on the topic of "Year of Safety (HSE) in NIS and Activities in the Field of Employee Safety and Environmental Protection", which was attended by representatives of NIS, state institutions and the largest companies in Serbia. The Report was presented through the dialogue of interested parties The Sustainable Development Report of NIS provides information on important aspects of business and achievements, which NIS, as a socially responsible company, achieved in the previous year, and which are aimed at improving life in the community through the realization of economic, cultural and social growth. Dedicated to application of the highest standards in reporting, the basis for the preparation of the report of NIS was again the Materiality Matrix, which represents a comparative overview of the key topics for the business from the perspective of the company and stakeholders. Kirill Kravchenko, NIS CEO, stressed that sustainable development represents strategic commitment of NIS. "We are certain that we will progress further and maintain the leading position in the region also in terms of the attitude towards sustainable development which is based on four pillars - economic development, human resources, responsibility towards the community and environmental protection. The success of the Company is measured by its financial results, but today, it largely depends on transparency of business operations and dialogue with the public, as well. That stresses the importance of the fact that NIS, as a company with over two million shareholders, is maximally open and nurtures dialogue with all interested parties. We will also try to help other partners we cooperate with to get involved into the process of opening themselves towards the society", underlined Kravchenko. Irena Sollorano, Resident Representative of the United Nations Development Programme in Serbia congratulated NIS on the Report which shows what a large company can do to support not only the society, but also the future of its environment. "What NIS is doing in this field is also a good feeling for business as it demonstrates that it is a company with a long-term vision which is trying to preserve the resources it is using. That demonstrates the Company's stability and it is achieved through the process of consideration and in a sustainable way. As for the UNDP, we cooperate with the private sector around the world, including in Serbia, and we see that more and more companies are following the example of NIS since care for the environment and support and care for your employees is showing a good feeling for business, added Sollorano. Professor of FEFA Ana Trbović explained that NIS had made a brave decision to present the Sustainable Development Report according to the highest international standards, as this is the way to share the picture of the company's business with the others. "The report says how NIS is organized, what it plans to invest in, but only in this way, when you conduct your business operations responsibly, may you expect long-term success," said Trbović. She stated that only few companies in Serbia invest in the development of personnel education as NIS does, adding that NIS also invests in supplier training, which represents good international practice. Director of Ernst&Young in Serbia Stephen Fish underscored that only 11 companies in Serbia prepare Sustainable Development Reports, while four apply international standards and international audit, which is, he assessed, a small number. "Standards are important for the sake of comparing the companies and their competitiveness", stressed Fish, adding that many companies would now take NIS to be their model in terms of reporting. NIS published its first verified Sustainable Development Report in 2011 and has adhered since then to GRI guidelines, which are generally accepted framework for reporting on economic, environmental and social performance of the organization. HSE panel on the subject of "The Year of Safety in NIS" The complete Sustainable Development Report for 2015 of the company NIS can be found on the company's website: More information on standards in corporate reporting can be found at the following Internet address: