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X5 joins the UN Global Compact

May 12, 2020. TAG: Retail Trade

X5 Retail Group N.V. ("X5" or the "Company"), a leading Russian food retailer that operates the Pyaterochka, Perekrestok and Karusel chains (LSE and MOEX ticker: "FIVE"), announces its accession to the UN Global Compact (UN GC), which is an international business initiative in the field of corporate social responsibility and sustainable development. X5 is the first Russian retailer to join the Global Compact.

By joining the UN GC, X5 confirms its commitment to the principles of human rights, fair labour relations, environmental protection and anti-corruption. It also highlights on an international scale the Company's intention to implement its own sustainable development goals. X5 Retail Group also joined the National Network of the Global Compact Association, the official UN Global Compact headquarters in Russia, which promotes implementing sustainable development models within national frameworks.

Participating in the Global Compact also entails an obligation to publicly disclose annually the outcomes and achievements for stated sustainable development goals. The parties to the Global Compact can regularly share best practices and learnings, as well as accumulated sustainable development expertise.  

Late last year X5 approved its sustainable development strategy as part of the company's overall business strategy. X5's goals for sustainable development were developed based on four global UN goals to which the Company can contribute the most: support for local communities, supporting healthy lifestyles, providing decent working conditions and equal opportunities, and helping to enable responsible consumption and resource use. X5 is currently developing programmes to achieve its sustainable development goals underpinned by meaningful metrics and targets, policies and requirements for integrating those goals into its business processes.

X5 Retail Group CEO Igor Shekhterman said: "Sustainable Development Goals have already become part and parcel of the Company's day-to-day activities and today we clearly see that issues of health and safety, food supply, support of vulnerable groups and overall responsible business conduct have become our strategic priorities. The accession of X5 to the UN Global Compact is further proof of our serious intentions in achieving the sustainable development goals that we set for ourselves. We are honoured to be part of the community of leaders in corporate responsibility and sustainable development."

X5 Retail Group

X5 Retail Group is the leading multi-format food retailer in Russia. X5 shares are listed on the London Stock Echange (LSE) and Moscow Exchange in the form of Global Depositary Receipts under the ticker "FIVE". The Company operates several retail formats, including the chain of conveniently located proximity stores under the Pyaterochka brand, the supermarket chain under the Perekrestok brand, the hypermarket chain under the Karusel brand.