We recognize the importance of regular interaction with local communities, focusing on objective 17.17 of the Sustainable Development Goals to stimulate effective partnerships among stakeholders. The Company’s external social policy is structured in accordance with the principles of constructive cooperation and responsible behavior, and priority is given to charity and sponsorship activity. Thanks to LUKOIL’s support, hundreds of such projects are implemented annually in Russia and abroad.
External social policy priorities
The Company’s external social policy focuses on key stakeholder groups and is performed using various mechanisms:
- partnerships with local authorities as part of cooperation agreements with the constituent subjects of the Russian Federation
- interactions with indigenous peoples of the North in Russia
- holding the annual Social and Cultural Projects Contest in Russia for a wide range of public and municipal organizations
- supporting charity and sponsorship, with the ultimate beneficiaries both specific target groups (for example, children deprived of parental care or with special needs) and the residents of population centers in general
The priorities of LUKOIL Group’s external social activity are the same for all the regions and countries where our subsidiaries operate, and include assisting with economic development; supporting culture, sports, science and education; improving the environment in the regions where the Group operates; promoting healthy lifestyles; and assistance to childcare institutions.
An important principle of external social activity is partners and initiators making a financial contribution to social projects. For example, a mandatory condition for taking part in the Social and Cultural Projects Contest is that the applicant organization must make a contribution from its own funds or borrowings equivalent to at least 30% of the requested amount.