NIS releases Serbia’s first Sustainable Development Report prepared according to GRI standards.

NIS has become the first Serbian company to release a Sustainable Development Report prepared in accordance with the standards developed by the expert international organisations Global Reporting Initiative (GRI) and AccountAbility.

The audit for the report was carried out by an independent auditing company KPMG.

The Sustainable Development Report includes an overview of the company’s financial, industrial, social and environmental policy. It was developed with the input from representatives of all NIS departments.

Global Reporting Initiative is an international non-profit organisation founded in 1997 in order to improve the preparation standards of corporate sustainable development reports. Since 2006 the “third generation” (G3) standards are applied. These standards include the principles and indicators used during the preparation of a report.

AccountAbility is a social and ethical reporting organization, founded in 1995, and the developer of the AA1000 series of standards which are used to assess an organisation’s statements according to its sustainable development indicators and to evaluate the underlying processes, systems and competencies.

“We introduce NIS Sustainable Development Report for 2010 to demonstrate our approach to business that means responsible and transparent management of both processes and personnel. The report was developed in accordance with the most innovative international standards. Publishing it, we are stating our intention to develop the company’s social reporting preparation mechanism and to ensure effective social investments monitoring as well as maximum transparency of all related processes”, Kirill Kravchenko, NIS General Director, Deputy General Director of Gazprom Neft said.