14 September 2020 — Gazprombank has established the Council for Promotion of Sustainable Development Principles to streamline Bank-supported projects in this sphere and also to create goals and objectives in the social, environmental and economic dimensions.
Deputy Chairman of the Management Board Alexey Matveev heads the Council, which is composed of Gazprombank’s senior officers who sponsor core business lines pursuant to the Council’s goals.
There are two Independent Members in the Council: former Ambassador of Luxembourg in Moscow Jean-Claude Knebeler and the UN Environment Programme’s (UNEP) National Goodwill Ambassador for Russia Vyacheslav Fetisov.
The first Council meeting held on 11 September 2020, approved the list and composition of its Commissions: Commission on Business Development and New ESG-Products Rollout, Commission on Government Relations to Advance Sustainable Development Principles, and Commission on Development and Implementation of Policies in Line with Sustainable Development Principles and on Monitoring of Compliance with Global Best Practices. Under the Council, a Working Group has also been set up to address the Council’s current issues.
As part of its work, the Council has already prepared the draft concept of Gazprombank’s environmental responsibility policy. Gazprombank also has plans to adopt its Sustainable Development Strategy before the end of 2020.
At present the Bank’s portfolio includes a broad range of ESG-oriented products (ESG – Environment, Social, Governance) – accounting for 64 per cent of the market, the Bank is leading in financing construction of Russia’s renewable energy facilities; it systemically organizes issuances of Green and Social Bonds. The Bank’s HR and internal policies have a clear ESG-oriented profile. Jointly with government bodies and big business, Gazprombank is also actively involved in the sustainable development agenda.
“Sustainable development, ecology and environmental protection have to do with people at large and each person in particular. And it is fair that the ESG agenda is getting increasingly meaningful at the national level, with ESG factors having a stronger impact on the performance indicators of companies. Gazprombank also makes considerable efforts in this field and is active in working with its customers whose operations are in line with the principles of sustainable development, environmental friendliness and energy efficiency, by making it possible for them to raise finance on more favorable terms,” commented Deputy Chairman of Gazprombank’s Management Board Alexey Matveev.
“Guided by sustainable development principles, Gazprombank is one of the most socially responsible financial institutions in Russia and has long since initiated and sponsored an array of initiatives related to charity, culture, sports, ecology and many other development areas in our country. I am certain that this dedicated Council established by the Bank and its active work will assist in making this vast activity more organized and help to yield maximum results. It is a great honor for me to join Gazprombank’s Sustainable Development Council. I hope my knowledge and experience will help to effectively resolve long-term goals and objectives facing Russia in order to make an important contribution to our common future,” the Council’s Independent Member Vyacheslav Fetisov pointed out.
“I have seen Russia making positive changes in recent years in all areas related to the concept of sustainable development, which would be impossible without the participation of such major organizations as Gazprombank. I am glad to become part of the Sustainable Development Council and help to make the disclosure of information on Gazprombank’s sustainable development performance more transparent,” the Council’s Independent Member Jean-Claude Knebeler said.
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