Corporate Governance Rating of IDGC of Centre was upgraded to NCGR 7++ «Developed Corporate Governance Practice»

Russian Institute of Directors revaluated IDGC of Centre’s national corporate governance rating and raised the rating by one notch – to the level of NCGR 7++ «Developed Corporate Governance Practice».

Russian Institute of Directors (RID) revaluated IDGC of Centre’s corporate governance practice, taking into account changes in the Russian corporate legislation, requirements of the Listing Rules of Moscow Exchange, as well as recommendations of the new Russian Corporate Governance Code.

The revaluation was carried out in four areas: the rights of shareholders, the activities of management and control bodies, information disclosure, as well as corporate social responsibility and sustainable development.

In all areas the Company’s activity is highly appreciated by the rating agency, the level of information disclosure on the Company’s website, annual and quarterly reports is particularly marked, being in line with the advanced standards.

IDGC of Centre is the only electric grid company with a rating of corporate governance at such a high level. In the difficult conditions of changing legislation, more stringent requirements for public companies by the regulator and stock exchanges IDGC of Centre’s rating increase indicates that the company has been developing in the direction of improving the quality of corporate governance.

"We’re in the middle of a complicated way, we have already done a lot, but much remains to be done in the near future," comments Sergey Sharapov, Deputy General Director for Corporate Governance of IDGC of Centre. "Our goal is to create an effective system of corporate governance based on the best international practices. The main task is maintaining the trust of our shareholders and increasing interest from the investment community."

The RID report on IDGC of Centre’s corporate governance practices can be found here.