To derive 12 sustainability streams, we challenged ourselves with three key tasks: we systematized all sustainability-related initiatives and projects across Yandex and mapped them against the UN SDGs, analyzed best practices as well as current and anticipated sustainability challenges relevant to the IT industry, and engaged our stakeholders to learn what they find important and expect of Yandex. There were nearly 2,000 people surveyed and interviewed, including employees and top managers, business partners and suppliers, investors and shareholders.
As a result, we identified Yandex’s areas of expertise that have the potential to strengthen our performance and drive positive change responding to local needs, as well as to address gaps that needed to be filled with actions. These opportunities underpinned the agenda.
We understand that our stakeholders expect to see ambitious commitments, and our intentions are firm. We work to establish more definitive targets over the next years by investing in assessing our as-is performance, which is the necessary basis for quality target-setting. For sustainability streams that are new to us, we are in process of introducing systemic monitoring to know where we are, what needs to be improved, and how to approach transformation. We commit to transparently reporting on our efforts and progress, as well as sharing how we measure the results. We encourage you to follow updates on this Sustainability webpage as well access our latest Sustainability Report.
Yes. Sustainability-related initiatives are overseen by Corporate Governance Committee of the Board of Directors. As stipulated in the Committee’s Charter, one of its core responsibilities is to review policies and initiatives related to environmental, social and governance matters. Members of the Committee approve strategic plans and get updated on the status of implementation during regular meetings (held at least quarterly).
The management board is in charge of determining Yandex’s strategic sustainability priorities, all subject to approval by the Board of Directors. Responsibility to carry out relevant projects and initiatives is delegated to the heads of business units and functions. The progress is monitored at both executive and operational levels, by the Chief Sustainability Officer, Group’s sustainability manager and heads of executing teams.
In line with corporate values of openness, equality and innovativeness, there is generally a bottom-up scenario of ideas being transformed into company-wide sustainability initiatives. A proposed project is discussed with team leaders and senior managers to be approved for upscaling. Depending on the nature of the initiative, the project might need to receive approvals from the Legal Department and other functions. Senior and top managers oversee the project’s performance, ensure cross-unit and cross-functional collaboration and provide advisory support to executing teams.
Yandex does consider possibilities of linking variable compensation directly to ESG performance indicators. However, we do not expect to introduce such KPIs within the next 12-24 months, especially due to market instability that makes us prioritize urgent matters first.
Noteworthy, our financial and operational results, which are often the KPIs for top managers, reflect corporate performance across various aspects of sustainable development. For example, revenue growth is ensured by strong performance in the areas of information security and talent attraction and retention. Relevant KPIs with respect to zero data breaches, undesirable staff turnover, traffic efficiency for transportation services, power usage effectiveness of server equipment, and some others, are set for responsible senior managers and teams.
Yes, Yandex has a standalone Yandex Group Anti-Bribery Policy. The document is not available in the public domain as of now, though can be provided upon request. Yandex’s Code of Ethics & Business Conduct also contains anti-bribery provisions.
According to the Anti-Bribery Policy, Yandex prohibits unlawful actions of:
- Promising, offering or provision by any person, directly or indirectly, of any undue advantage to any government official for this particular official or any other person in order that this government official perform or refrain from performing certain actions in the exercise of his/her functions (active bribe);
- Acceptance of a request or solicitation, or granting permission to anyone for accepting a request or soliciting, directly or indirectly, a government official for financial or other benefits (passive bribe);
The prohibition is not limited to monetary payments. It also covers the promise, provision, offer, or acceptance of gifts, entertainment, meals and travel, contributions in kind such as charity, opportunities of business, employment or investment, insider information usable in trading in securities or goods, personal discounts or credits, facilitation payments, assistance to or support of family members of government officials, as well as other privileges or benefits.