Ecological rating as an indicator of geoenvironmental risk management of Russian oil and gas companies in the Arctic

Abstract

The article is devoted to the issues of environmental ratings as an indicators of the process of geoenvironmental risk (GER) management of Russian oil and gas companies, operating in theArctic. The authors demonstrate the algorithm of GER management model processes and reveal the need to use environmental ratings for the oil and gas industry. Particular attention is given to the issues of rating results of Environmental Responsibility of Oil and Gas companies in Russia that was held in 2014—2017 years. It was conducted by the cooperative initiative by CREON Group and WWF Russia with participation of National Rating Agency. The authors have selected from all Russian oil and gas companies only those who operating in the Arctic region and they have analyzed them. The rating's results show that the leaders are companies whose management pays special attention to gas. They are Sakhalin Energy (Sakhalin-2), Gazprom and Zarubezhneft. The authors point out that the environmental rating of Russian oil and gas companies can serve as an indicator of GER management, as a tool to inform foreign investors about the environmental impact to ensure the ecological safety of the region.