Stakeholder engagement

Our ability to listen and understand, be quick in our response, and effectively work with a wide range of stakeholders is key to the approach we use in doing business. It provides a solid foundation for delivering on strategic SDGs. Ensuring maximum transparency of our operations, including through full, high quality, and timely reporting, is a prerequisite for achieving this goal.

In February 2023, PhosAgro received the Interfax and AK&M information agencies’ award for its advanced practice of information disclosure in the stock market. We highly value the acknowledgement from the expert community and remain dedicated to upholding best ESG practices and the highest standards of corporate reporting going forward.

Alexander Sharabaika Chairman of the Strategy and Sustainable Development Committee of the Board of Directors
Александр Шарабайко

Approach to stakeholder engagement; identifying and selecting stakeholders

GRI 3‑1, 2‑29, SASB EM‑MM‑210a.3

PhosAgro’s framework for stakeholder engagement management covers all tiers of corporate governance. Our stakeholders include persons or organisations that, in line with the double materiality principle, may be affected by our activities or can influence our operations and business decisions. Furthermore, we seek to build partner relationships with government agencies in all countries where we operate and ensure that we strictly comply with all applicable regulatory requirements.

Generated and distributed direct economic valueCalculated on accrual basis using data from the Group’s IFRS consolidated financial statements.,RUB mln
GRI 201‑1

Item Stakeholder 2021 2022 2023
Direct economic value generated 422,459 573,966 444,682
Revenue from sales Wide range of stakeholders 404,849 551,037 421,690
Revenue from other sales 15,639 18,490 18,614
Revenue from financial investments 1,971 4,439 4,378
Economic value distributed (363,715) (520,253) (478,495)
Operating expenses, including: (250,101) (320,792) (291,455)
wages and other payments to employees Suppliers and contractors Employees and trade unions Wide range of stakeholders (32,781) (51,567) (47,425)
social expenses (3,378) (9,314) (7,720)
Payments to providers of capital (76,595) (146,669) (139,733)
declared dividends Investment and finance community (72,260) (142,111) (132,221)
interest expense (4,335) (4,558) (7,512)
Tax expenses and other payments to government: (37,019) (52,792) (47,307)
including income tax expense Regional and local governments, and local communities (31,073) (41,465) (34,527)
Retained/(redistributed) economic valueEconomic value retained for 2023 was negative since the Company distributed to its shareholders both profits for the reporting year and a portion of profits retained from the previous years. 58,744 53,713 (33,813)

Suppliers and contractors


Employees and trade unions




Investment and finance community, including investors, shareholders, and rating agencies

Our key stakeholders


Regional and local governments, and local communities


Business and industry associations


International organisations


Scientific and educational institutions


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Feedback from shareholders and other stakeholders helps PhosAgro improve reporting transparency and quality.