Moscow, November 18, 2021 — Gazprombank signed the United Nations Environment Program Finance Initiative (UNEP FI)’s Principles for Responsible Banking, officially joining the international community of responsible banking.
The document contains the principles for activities of banking institutions, the implementation of which ensures attaining the UN Sustainable Development Goals and the goals of the Paris Climate Agreement. Signatory banks assume a leadership role in embedding sustainable business strategies and practices in their business activities to shape the future of banking that serves people, societies and the planet, securing prosperity for current and future generations.
In accordance with the Principles, signatory banks measure the impact of their business activities on the environment and society, set and implement the goals in those areas where they have the most significant impact, and publish regular reports about their progress. The Principles provide a framework for banks to systematically understand the risks and seize the opportunities arising from the transition to more sustainable economies.
Throughout its history, Gazprombank has always strived for high-quality development and adherence to the principles of responsible and conscientious business conduct. Within the activities of the Council for Sustainable Development incorporated in the Bank, a number of documents have been adopted to regulate Gazprombank’s ESG activities, including the Bank’s Sustainable Development Policy, Road Map for Sustainable Development Principles Implementation, Dedicated Policy on Environmental Responsibility and Corporate Code of Ethics. The first verified Report on Activities in the Field of Sustainable Development (ESG) for 2020 as per the Global Reporting Initiative (GRI) standards has also been published. Currently, the scope of Gazprombank’s projects aimed at the reduction of adverse impact on the environment approximates to RUB 200 billion, while the projects with evaluated environmental and social effect exceed RUB 700 billion in capital expenditures.
“Embracing the Principles for Responsible Banking, Gazprombank affirms its commitment to continue following the charted course. Moving forward, we plan to keep building a business that is based on global best practices in the area of sustainable development, increase our transparency, play an active role in improving the regulatory framework and reporting, and encourage the promotion of sustainable development principles among our clients and counterparties. Gazprombank has significant potential to incentivize businesses in the key sectors of economy to turn to sustainable development practices and reduce their adverse impact on the environment and society. I am confident that our experience will be sought after by those who have made the conscious decision to choose sustainable development as the only possible frame of reference in the modern business community”, noted Andrey Akimov, Chairman of the Management Board of Gazprombank in his address on the occasion of the signing of the Principles by the Bank.
As of today, over 250 banks, representing more than 40 percent of the global banking assets, have signed the United Nations Environment Program Finance Initiative (UNEP FI)’s Principles for Responsible Banking, the largest and actively growing responsible global banking community.
For more details about Gazprombank’s activities on the sustainability agenda, please visit the special section on the Bank’s website via the link.
Additional information on the Principles for Responsible Banking: www.unepfi.org/responsiblebanking