Recently, the topic of ESG has been discussed more often, as responsible entrepreneurs are involved in environmental issues, good corporate governance, and social projects. This is becoming not just a trend but also an essential component of a progressive business in countries in Russia, local media reported.
Businessmen began to ask not only the question: of how to develop their business but also the question: of what they can give people and the environment.
Sber recently published a report on compliance with the Principles for Responsible Banking of the UN Environment Finance Initiative, the Principles of the UN Global Compact, the UN Sustainable Development Goals, and the recommendations of the 2021 Climate Financial Disclosure Task Force.
Such a report allows you to determine how the business meets the goals of sustainable development and what steps the company takes to achieve them.
Sber became one of the first Russian companies to introduce ESG principles into its management. And at the end of 2021, she managed to achieve significant results.
Thus, already 5,780 branches of Sberbank across the country have been adapted for people with disabilities, 31,989 ATMs have been adapted for people with visual impairments. Significant work is also underway to preserve the environment – the share of renewable energy sources in Sber’s energy consumption has reached 22%.
Responsible financing is of great importance, ie. funding projects that meet the principles of ESG. According to the bank, in 2021 the volume of placement of ruble ESG bonds with the participation of Sber exceeded 120 billion rubles, the volume of the debut issue of Sber green bonds was 25 billion rubles, and the portfolio of green and ESG loans reached 300 billion rubles.
Recently the Volga Bank of Sberbank published information that in the first half of 2022 their portfolio of responsible financing grew by 28% and amounted to about 40 billion rubles as of July 1, and the most significant growth came in June – more than 4.7 billion rubles. This happened thanks to ESG funding of large partner projects.
Alexander Anashchenko, Chairman of the Povolzhsky Bank of Sberbank, notes that today in Russia more and more companies are paying attention to ESG financing.
“Responsible financing is a trend today in all progressive countries. In Russia, the ESG approach is becoming one of the essential elements of doing business and forms the harmonious development of entrepreneurship and society,” notes Anashchenko.
Sberbank is one of the first Russian banks to actively use responsible financing tools together with its partners. Based on data on the growth of our green finance portfolio, we note an increase in our clients’ interest in this type of lending.”