When preparing the report in 2017, our main task in terms of communication was to present Inter RAO to all groups of stakeholders. We developed high-level approaches to the collection and disclosure of information. Even though it was our first project with the company, the report placed first at the Moscow Exchange Annual Report Contest (in the Best Disclosure of Information on Corporate Governance in the Annual Report category).

For the Horizon CF team, the real challenge came when preparing Inter RAO’s 2019 integrated report. In 2019–2020, Inter RAO Group was in the midst of a major growth drive. With financial performance going from strength to strength, its ten-year strategy coming to an end, ESG capabilities being actively developed, and risk management being stepped up, the company was paying serious attention to the quality of its corporate governance and was developing a new strategy.

In this context, the top priorities of the Inter RAO team and Horizon CF experts were to clearly tell the company’s compelling growth story in the annual report, to highlight all key areas while providing a holistic view of the overall picture, to improve the quality of disclosure to a level that reflects a solid corporate culture and – most importantly – to meet the growing demand for ESG disclosures. On top of this, Inter RAO had for the first time engaged an external auditor to assess the report’s compliance with GRI standards. For this reason, we needed to follow much stricter requirements to ensure the information disclosed was reliable and GRI-compliant.

Horizon CF experts worked closely with the Inter RAO team to successfully step up to this challenge by applying international best practices vis-a-vis content structuring and the conceptual disclosure of key topics related to strategy, risks, sustainability, and corporate governance.

We have been working with Inter RAO since 2017 on non-financial reporting, with projects including GRI- and IIRC-compliant integrated annual reports that disclose information in line with Russian and global best practices.