Moscow, September 1, 2021 — Gazprombank published the first Report on its activities in the field of sustainable development (ESG) for 2020 presenting main achievements, projects and initiatives completed by the Bank in social, governance and environmental factors. It covers the events of 2020, as well as previous periods and the past six months of 2021, which is essential for understanding such material aspects of the Report as the sustainable development management system, responsible investing and financing, and more.
The Bank’s Sustainable Development Report complies with the Global Reporting Initiative (GRI) standards () and its conformity to these standards was validated externally. The facts stated in the Report also passed an independent audit to ensure the readers’ confidence that the information provided in the Report for the first time is accurate and complete. The auditor was KPMG, one of the world’s largest and most respected advisory and audit companies.
“Adherence to the sustainable development principles is one of the most ambitious and highly prioritized objectives for Gazprombank. In recent years, the Bank has done a lot of work on ESG, therefore we are proud to introduce to the Russian and international community our Sustainable Development Report that describes the Bank’s approaches and principles for ESG activities, and also presents key ESG events and the results of the extensive work in this area. I am confident that this Report will become one of Gazprombank’s ‘hallmarks’ for clients, partners and investors, including foreign, while for us it will set a high bar in sustainable development, which we plan to raise consistently in the future,” commented Alexey Matveev, Gazprombank’s Deputy Chairman of the Management Board, Chairman of the Bank’s Council for Sustainable Development,.
Previously, the Bank’s Council for Sustainable Development adopted a number of documents regulating Gazprombank’s ESG activities, including the Bank’s Sustainable Development Policy, Road Map for the Implementation of Sustainable Development Principles, Dedicated Policy on Environmental Responsibility and Corporate Code of Ethics. Currently, the value of the Bank-financed portfolio of projects aimed at the reduction of adverse environmental impact approximates to RUB 200 billion. The investment projects with an appraised environmental and social effect amount to over RUB 700 billion in capital expenditure.
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The Global Reporting Initiative (GRI) is a global initiative, unified standards and reporting recommendations disclosing the non-financial performance indicators. The GRI system is a set of provisions and documents prepared as a result of international consultations with the participation of multiple interested parties. These documents are intended to assist companies in identifying, collecting and reporting this information in a clear and comparable form using sustainability reports disclosing information on reducing the harmful environmental impact, on social accountability and corporate governance. The sustainability reporting system GRI was first launched in 2000, and is currently used most widely by transnational organizations, governments, small and medium-sized enterprises, non-commercial organizations and industry groups in more than 90 countries.