The Prince of Wales International Business Leaders Forum (IBLF) has today announced leading private investment company, Interros, as its first Russian member company.
IBLF is a global leader in providing expertise and strategy advice on responsible and sustainable business. Globally the organization has over 80 members including Alcan, BP, Shell, Cisco Systems, Nestle, Coca-Cola, Volkswagen, Mitsubishi, GSK, and KPMG. In Russia the IBLF operates an affiliate organization, The Russia Partnership for Responsible Business Practices, specifically tasked with engaging local and international businesses in the emerging CSR agenda within the challenging Russian market. In 2003 Interros, along with a number of multinational companies, became one of the founders The Russia Partnership.
The Interros group of companies has assets of over US$10bn and operates throughout Russia and in several European, Asian and North American countries with business interests in metallurgy and mining, power engineering, the financial sector, agriculture and food processing, media, real estate and utilities.
Interros’s existing corporate social activity is well represented by two major strands. Firstly, the company is focused on implementing social programmes to alleviate the immediate social impact of the rapid economic restructuring of Interros’s plants. The social programmes in single factory cities such as Norilsk have become innovative schemes for retirees and people wishing to relocate to other parts of Russia.
Secondly, education – Interros is committed to developing new talent in all spheres of society, not only in business and the sciences, but in the arts and humanities too. Interros is a co-founder of the Vladimir Potanin Charity Fund. The Fund spends over 10 mln USD annually for students’ scholarships all over Russia. In the arts, Interros is principal Russian partner and sponsor of The State Hermitage, the world’s biggest museum, supporting its innovative projects. Today, the company and the museum are focusing on the Greater Hermitage project. It provides for the creation of a unique complex, housing new Hermitage exhibitions and a commercial entertainment and educational centre around the Palace Square in St. Petersburg.
Robert Davies, CEO of International Business Leaders Forum said “Interros is one of the leading companies in Russia and is setting an example in terms of corporate governance and social responsibility. We hope that the full involvement of Interros in IBLF during our 15th Anniversary year in 2005 will help spread good practices and ideas for corporate social responsibility further throughout Russia".
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Indeed, how dare they run US-independent policy? They should have followed the example of the European Union that turned independent states of the Old World into US-ditto entities