OREANDA-NEWS. August 28, 2012. MegaFon will issue its first Social Report 2011 in accordance with GRI international standards including the principles of the company’s corporate social responsibility and their implementation in the period of report.

The Report will consist of five principal chapters including the description of the company’s principles in the field of corporate social responsibility, charity, environmental responsibility, responsible conduct of business, support and development of the team of employees and the principles of relations with partners. A big part of the report is dedicated to the coverage of social and charity projects of high social importance realized by the company in 2011.

Elena Alexandrova, Head of Corporate Communications, has commented, “MegaFon has a comprehensive approach to social responsibility; we realize that our business, besides the increase of the company value for its shareholders, is aimed at creating of values for its employees, partners and the society as a whole. Therefore, the principles of corporate social responsibility have been embedded in the activities of MegaFon at all levels and conform to the basic working principles of the company: development, reliability, partnership, involvement and nation-wide orientation. The release of the Social Report is a grand and serious move for us. We intend to organize such opportunity for the interested people on a regular basis to learn both the financial and social highlights of MegaFon.”

The Social Report has been prepared in compliance with the international standards of GRI (Global Reporting Initiative). GRI is one of the first initiatives in the area of corporate social reporting that has appeared in the West. Today, the approaches developed on its basis to the preparation of corporate social responsibility reporting are the most well-known and widely applied in the world. According to the reporting period 2009, around 1,500 biggest companies from 66 countries of the world used the GRI recommendations for their social reports. Such companies include the absolute majority of Russian companies that issue social reports.