MOSCOW, Oct. 22, 2019
MOSCOW, Oct. 22, 2019 /PRNewswire/ -- PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE: PHOR), one of the world's leading vertically integrated phosphate-based fertilizer producers, has joined the European Sustainable Phosphorus Platform (ESPP).
PhosAgro is the first fertilizer company with production sites outside the European Union to join ESPP. Membership in the not-for-profit association serves as confirmation of PhosAgro's commitment to the principles of sustainable development and responsible production, and it will also allow the company to participate in developing the European public and research agenda for sustainable phosphate resource use.
The association includes international companies and organisations involved in fertilizer production, the search for innovative solutions and research in the field of fertilizers, phosphorus management and recycling, and mineral and organic fertilizer innovation. Some of ESPP's key objectives are to offer association members platforms to share knowledge, transfer best practices and create professional networking opportunities in the field of phosphate resource use; it also aims to support dialogue among market participants, stakeholders and regulatory authorities, as well as to eliminate regulatory obstacles.
Irina Bokova, Сhair of the Sustainable Development Committee on PhosAgro's Board of Directors, who previously served as Director-General of UNESCO for eight years, noted: "Sustainable development is one of PhosAgro's strategic priorities. As a responsible producer of mineral fertilizers used in 100 countries globally, we are focused on having a long-term positive impact on society.
"We have long cooperated actively with a number of highly regarded global organisations in researching, developing, and implementing joint initiatives aimed at solving global challenges, and we are honoured to join the European Sustainable Phosphorus Platform, which will help us maintain dialogue with a wide range of ESPP stakeholders and share knowledge and expertise, including as it relates to effective application and expanded use of fertilizers that do not contain harmful impurities."
PhosAgro CEO Andrey Guryev stated: "The Company's approach to sustainable development is becoming more structured. Alongside a number of important internal transformations taking place in this area and our establishing a long-term roadmap, at this stage we are already contributing to food security, as well as improving the health of the world's population and sustainable agricultural development thanks to the production of environmentally friendly, high quality fertilizers.
"Joining the European Sustainable Phosphorus Platform is a logical step in integrating PhosAgro into the international community. It also offers an opportunity to share knowledge and technology, collaborate in addressing pressing issues facing humanity, and build a constructive dialogue with regulators and national governments, which is of particular importance against the backdrop of the world community's increasing attention to food safety and human health.
"This past May, a historic decision was made to bar the sales of phosphate-based fertilizers with a high content of heavy metals in the EU from 2022, while also introducing voluntary green labelling for fertilizers with cadmium content below a safe level of 20 mg/kg P2O5. At the same time, in its International Code of Conduct for the Sustainable Use and Management of Fertilizers, the UN Food and Agriculture Organization (FAO) has enshrined a recommendation that governments worldwide introduce restrictions on the sale of fertilizers containing high levels of toxic substances."
PhosAgro is one of the world's leading vertically integrated phosphate-based fertilizer producers in terms of production volumes of phosphate-based fertilizers and high-grade phosphate rock with a P2O5 content of 39% and higher. PhosAgro's phosphate-based fertilizers stand out for their high efficiency, ensure safety of agricultural products to human health and do not contaminate soils with heavy metals.
The Company is the largest phosphate-based fertilizer producer in Europe (by total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of high-grade phosphate rock with a P2O5 content of 39%, a top-three producer of MAP/DAP globally, one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia, and Russia's only producer of nepheline concentrate (according to the RAFP).
PhosAgro's main products include phosphate rock, 39 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in 100 countries spanning all of the world's inhabited continents. The Company's priority markets outside of Russia and the CIS are Latin America, Europe and Asia.
PhosAgro's shares are traded on the Moscow Exchange, and Global Depositary Receipts (GDRs) for shares trade on the London Stock Exchange (under the ticker PHOR). Since 1 June 2016, the Company's GDRs have been included in the MSCI Russia and MSCI Emerging Markets indexes.
More information about PhosAgro can be found on the website: www.phosagro.ru.
For further information please contact:
Andrey Serov, Head of Investor Relations Department
+7 495 232 9689 ext 2183
Timur Belov, Press Officer