DTEK commits to WEF's "stakeholder capitalism" standards

Ukrainian gas and power supplier DTEK announced on January 24 it was committing to the principles of the World Economic Forum (WEF)'s stakeholder capitalism initiative.

The stakeholder capitalism initiative, launched on January 24, aims to establish common standards for companies to measure, manage and disclose their impact on environmental, social and governance issues. DTEK CEO Maxim Timchenko said the company "wholeheartedly supports the principles of stakeholder capitalism and we are encouraging our business partners to join us in doing so."

"From today, DTEK will reflect the stakeholder capitalism metrics in its reporting to investors and other stakeholders," he said.

DTEK noted it had been the first Ukrainian company to embark on a long-term business strategy based on US Sustainable Development Goals and ESG standards.