Waste firm Veolia has defended its continued presence in Russia despite sanctions imposed by most western governments. (23/05/2022)
The company has faced criticism from a number of UK councils with which it is contracted and from the GMB trade union.A company spokesperson said: "We utterly condemn war and violence in Ukraine. We are providing absolutely no new funding for our operations in Russia, and have stopped all new investment and all financial flows between the group and our Russian subsidiary.
“In full compliance with the current sanctions regime, we are maintaining our responsibility to our employees and the communities we serve by continuing our vital public service operations in both Ukraine and Russia.”
Veolia’s latest accounts said the French waste and water conglomerate’s exposure to Russia and Ukraine was “very limited”, with a total revenue of some €120m (£101.8m), equivalent to 0.3% of group revenue.
This roughly equalled €130m (£110.3m) of capital employed, which it said was less than 0.5% of the combined Veolia-Suez business. MRW - link - Mark Smulian - link - more like this (France 24) - link - Veolia response - link - more like this - link - more like this (France) - link
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