Environmental

As a real estate development and investment company, we rely heavily on natural resources used in construction and management of real estate. Consequently, we focus on efficient management of these resources and strive to find ways to optimise their use in our operations. We constantly explore ways to minimise energy use and ensure waste produced by our activities is utilised in compliance with the law.

The Company complies with the Russian environmental laws regarding protection of water, forest and environment. It also follows EU Environment policy.

Social

Social responsibility is an important part of any Company’s long term strategy. Working together with internal and external stakeholders to create value and have a positive impact on the community and relationships is an important part of our Corporate Social Responsibility policy.

Given the broad range of stakeholders and challenges that have to be covered, we have consulted national laws and legislations as well as leading international acts and frameworks to create principles on social responsibility.

Employees

AFI Development considers its employees as the largest group of internal stakeholders and enforces social policy to resolve any human rights and operational health and safety issues that might face them.

With relation to social aspects, Company relies on two policies. Firstly, the Human Rights Policy, which states our respect for dignity, freedom and rights of our stakeholders. It constitutes a basis for our business values as also outlined in AFI Development’s Code of Ethics. Secondly, Human Rights Policy principles prohibit and condemn any form of discrimination, harassment and aggression towards all employees of the Company and its operating subsidiaries. The Policy also encourages diversity and inclusiveness.

AFI Development’s main Occupational Health and Safety principles encompass the continuous monitoring and enforcement of the safety of the employees, promotion of decent working conditions and management of operational health and safety risks.

Company has set up grievance mechanisms to receive, assess and respond to complaints or queries from stakeholders without any prejudice, as set by our Whistle Blowing Policy.

Contractors

Contracting organisations are a large part of Company’s activities and strategy. It is important that every contracting organisation is compliant with principles of AFI Development’s policies as well as laws and regulations.

External stakeholders

Code of Ethics is AFI Development’s primary framework that sets its principles of interaction with the community and external stakeholders. It values professionalism, excellence and responsibility in the business activities and relationships with customers and the society at large.

The Company is set to build a long-term relationship with any stakeholder, founding it upon confidence, integrity and mutual respect. Communities are supported by charitable contributions and ethical business practices which also support long term trust and mutual growth.

Governance

Effective governance structure is crucial for the implementation of the Company’s policies, promotion of ethical behaviour and consideration of the stakeholders’ interests.

As a company listed on the London Stock Exchange and incorporated in Cyprus, AFI Development has developed strong governance mechanisms to be compliant with a range of laws and regulations, such as the UK Corporate Governance Code which is reported annually in the AFI Development’s Annual Report.

Board of Directors is the primary governing body of the Company. It reviews and approves every policy and adjusts it to fit the changing market and environment, if necessary.