M.Video-Eldorado co-founds National ESG Alliance, founder Alexander Tynkovan elected to Supervisory Board
M.Video-Eldorado Group, Russia’s leading e-commerce and consumer electronics retailer (MOEX: MVID), has become one of the co-founders of ESG-Alliance, or the National ESG Alliance. Alexander Tynkovan, the founder of M.Video and Chairman of M.Video-Eldorado’s Board of Directors, has been elected to ESG-Alliance’s collective governance body, the Supervisory Board, to manage strategic objectives and determine the Alliance’s key areas of development.
The National ESG Alliance’s mission is to promote transition towards a sustainable economic development model that would ensure nature preservation, community well-being, and long-term business prosperity amid natural resource limitations based on the commitment, cooperation and partnership of all the stakeholders.
The main focus areas of the Alliance include supporting the evolution of the regulatory environment, promoting ESG practices, facilitating knowledge exchange between business sectors, the government and society, developing a common framework for ESG assessment and disclosures, fostering the market for responsible financing and assisting the development of infrastructure to create, test, implement and leverage sustainable practices.
During their first official meeting, ESG-Alliance’s founders approved its Articles of Association and governance structure. Andrey Sharonov, former President of Moscow School of Management SKOLKOVO, was appointed CEO of the Alliance. Its Supervisory Board includes representatives of every founding company: Sistema, Metalloinvest, Prosveshcheniye Publishers, SIBUR Holding, URALCHEM, Uralkali, Polyus, Mercury Retail Holding, En+ Group, RUSAL, ERG SALES, EuroChem, X5 Retail Group, R-Pharm, Vos’hod Development, AVTOBAN, the Kolmar Group, Solar Systems, T Plus, TMH, Delo Management Company, SUEK, M.Video-Eldorado Group, Russian Copper Company, Sberbank, O1 Properties, Pharmstandard and Gazprom Neft.
The founders also approved the official name: Autonomous non-profit organization National Alliance for Social and Environmental Responsibility, Corporate Governance and Sustainable Development (short name: ESG-Alliance, or the National ESG Alliance). The state registration of the Alliance is nearing completion. Once it is done, ESG-Alliance will embark on its mission.