The Iowa-based think tank is asking Institutional Shareholder Services (“ISS”) for details on why Russian state-owned energy company Gazprom enjoys a respectable ESG rating
The Corporate Citizenship Project, a think-tank focused on a data-driven approach to corporate governance issues, released a letter to Institutional Shareholder Services (“ISS”) asking the proxy advisor.
Why Russian state-owned energy company Gazprom enjoys a respectable “C Minus” rating on ESG despite recent news reports stating Gazprom has cut off US-allies Poland and Bulgaria from receiving gas supplies.
After Kremlin-Owned Oil Company Cuts off Gas to Poland and Bulgaria
We need to know if ISS has accepted any payments from Russian state-owned companies
Ghada Salahuddin, President & CEO of The Corporate Citizenship Project, had the following statement on the letter:
“Russian state-owned energy giant Gazprom serves as a vehicle of oppression against the people of Eastern Europe cutting off gas supplies for refusal to accede to Putin’s demands. I am shocked that ISS seems to think they deserve a respectable ESG rating. This, compounded with ISS’s apparent refusal to downgrade Russia’s ESG rating even after President Biden accused Russia of committing war crimes in Ukraine raises troubling questions. We need to know if ISS has accepted any payments from Russian state-owned companies and, if so, if they are continuing to do so.”
