OREANDA-NEWS. January 30, 2013. TVEL OJSC held its first dialogue entitled Discussion of the Concept of Annual Report with Stakeholders. During the dialogue, stakeholders' representatives put forward their proposals regarding the concept of the future document, its structure and most important topics to be covered.

TVEL Vice-President Konstantin Sokolov spoke to the participants of public consultations. He told about the key corporate development stages in 2012 that would be covered in the forthcoming report.

“In previous years, TVEL FC managed to become a leader in the field of public reporting, receive high appreciations and get top places in annual report contests,” reminded Konstantin Sokolov. “The task for the report 2012 is to retain the high level, as well as to develop and improve integrated reporting practices by applying the latest recommendations of both Rosatom State Corporation and professional international organizations.”

Elena Feoktistova, the Dialogue Facilitator and Director of the Center for Corporate Social Responsibility and Non-Financial Reporting of the Russian Union of Industrialists and Entrepreneurs, pointed out that TVEL's aspiration to improve its annual report testifies to the maturity of the company’s business and their understanding of the fact that improved transparency and disclosure has opened new opportunities for business in the domestic and global markets.

Such issues as social responsibility in TVEL’s business model, company's business orientation and its focus on greater operational efficiency in the conditions of tougher competition were named by Konstantin Sokolov among the most important topics to be covered in the future report. He also told that the volume of the annual report would be reduced, but analytical data would be deeper, some KPIs would be reviewed in detail and A+ disclosure level would remain. The total number of GRIs expected to be disclosed is 84 (vs. 71 in 2011).

The dialogue was attended by more than 45 stakeholders’ representatives, including representatives from Rosatom State Corporation, trade union committees of the industry and enterprises, representatives from educational and research institutions, public and environmental organizations, governmental authorities and controlling organizations, trade partner organizations, professional organizations dealing with non-financial reporting and corporate governance, as well as company managers included in the management perimeter of the Fuel Company.

During the discussion, all stakeholders’ representatives could address their questions to TVEL managers and provide their recommendations regarding the report contents. In particular, their proposals were related to environmental, social, scientific and technical aspects of the company’s activity.