NIS presented Report on Sustainable Development in accordance with Internaional Standards

NIS and the Agency McCann Erickson PR have presented on 18 July 2011 the report on sustainable development of the company for 2010, prepared according to the standards and the highest level of quality in the area of corporate reporting, prescribed by the international organizations Global Reporting Initiative and AccontAbility, while the audit of the report was performed by an independent auditing house KPMG.

The presentation of the Report on Sustainable Development of the company for 2010 was attended by, in addition to Kirill Kravchenko, NIS CEO, Miladin Avramov, the State Secretary of the Ministry of Environment Protection, Mining and Spatial Planning, James Thornely, partner in the auditing house KPMG, Vigor Majic, the Director of Research Station Petnica and Borislav Miljanovic, the Director of McCann Erickson PR.

"Preparation and presentation of the Report on Sustainable Development of NIS for 2010 is a demonstration of our approach to business operation which implies our being responsbile and transparent in the management of processes and personnel. This is not merely an intention to point out our achievements, but also an invitation to a dialogue in which all participants may openly express their opinions as well. This document was prepared in accordance with the latest international standards which we apply also to other business processes in the company. Today we are presenting our readiness to improve the processes of a social report, i.e. our intention to ensure an efficient control of social investments, maximum transparency of all processes, as well as an invitation to the best representatives of the practice to become our partners in such projects”, Kirill Kravchenko, NIS CEO pointed out.

"By looking at the latest international practice and the demand for the reports on socially responsible business operation in Serbia to be verified in a certain way, KPMG has recognized this demand and introduced the certification according to GRI standards. It is a great pleasure for us that NIS has become the first company in Serbia whose report we are jointly presenting“, said James Thornely, a partner in KPMG in Serbia, on that occassion.

Company’s Report on Sustainable Development includes the fields of financial, operational, social, environmental and socially responsible business operation. In the preparation of this Report, which lasted for six months, representatives of all organizational units in the company were taking part, while the approval and the implementation of the project was coordinated and monitored by a specialized committe established in NIS. Also, the organizations in charge of project implementation were obliged to submit their reports on implementation.

Global Reporting Initiative,, is an international non-profit organization established in 1997 with the intention to achieve the top level of quality in corporate reporting on sustainable development. Since GRI standards have been improving year to year, since 2006 G3, so called "third generation“ of reporting on sustainable development reporting has been applied. G3 consists of principles and indicators which define the frameworks for the content and the quality of reports in the area of sustainable development and instructions for defining of limits in the course of reporting. G3 principles may be used by small companies, large multinational companies, public sector, non-government and other organizations from all over the world.

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