Our sustainability approach
Currently, no other Russian retailer has more stores across as many locations as Magnit. As industry leaders, we are committed to not only improving our financial and operational results but enhancing the sustainability of both our business and the industry at large.
As Russia’s largest retail chain, a significant portion of the country’s population comes through Magnit’s doors. We sell society’s most vital goods, such as food and FMCG. Our priority remains to provide customers with accessible, high-quality food and non-food staples. As evidenced by Magnit’s extensive track record, including during challenging economic times, the availability of our stores, particularly economy class and discounter stores, is in itself a way of providing assistance and support to people.
Magnit joined the UN Global Compact and the Social Charter of the Russian Business and is committed to doing business responsibly. Our sustainability approach is based on the 10 principles of the UN Global Compact and the 17 UN Sustainable Development Goals (SDG), which we make a strong contribution to thanks to the scale of our operations. While Magnit chose eight priority SDGs to focus on, our initiatives contribute to a total of 15 out of the 17 SDGs.
Magnit is constantly finessing its sustainability management and reporting. We listen to and speak openly with all stakeholder groups, identifying the most relevant topics to enhance our communication. Our stakeholder engagement is underpinned by a respect for human rights — something we communicate to our employees, suppliers and partners on an ongoing basis.
As we continue expanding our footprint, we aim to foster development and positive social change in all our regions of operation. For over 28 years, we have been striving to provide local communities with equal opportunities of access to quality and affordable products, foster the health and well-being of our customers, create jobs and support over 5,000 suppliers, from large corporations to local manufacturers and farmers.
Our Sustainability Strategy 2025 responds to people’s most pressing needs in terms of transformation of the food retail industry and its sustainability. Magnit continues to make every effort to remain a socially and environmentally responsible business, which we believe is an essential component of our growth and development.
In 2022, Magnit ranked among the leaders in an ESG ranking of Russian companies by sustainable corporate governance. Magnit was assigned A level for the Best Corporate ESG Practices
