Environmental Matters
Environmental Matters
Sustainable development nurtures a special attitude towards the world around us, demonstrating that ignoring ecological needs will result in degradation of the environment and endanger the very existence of the mankind. Environmental protection is the dominant strand in the ESG (Environmental. Social. Governance) concept, and company’s activities cannot be viewed as “sustainable” unless they include nature conservation measures, primarily those aimed at reducing the consumption of resources of our planet.
Development aspects
The development of renewable energy is one of the most important trends in the Russian electric power industry and one of the fastest developing sectors in the global economy. It represents a step forward in terms of technology, digitization, and environmental standards.
At present, over 60% of domestic projects in the renewable energy field are implemented with credit support from Gazprombank, which confirms the Bank’s strong interest in green energy projects. The Bank team completed the industry’s first solar power plant construction financing deal back in 2015, and Gazprombank sees good prospects for the financing of more renewable energy projects.
In November 2019, Gazprombank and the portfolio company of the Wind Energy Development Fund (a joint investment fund established by Fortum and the ROSNANO Group on a parity basis) signed a loan agreement for the purposes of financing the construction of 50.4 MW wind power plant No. 2 in Ulyanovsk and two wind generation plants with a total capacity of 200 MW in the Republic of Kalmykia. The wind generation farms will start supplying electricity to the wholesale electricity and capacity market (WECM) in the fourth quarter of 2020.
In 2019, the Bank invested in Gazprom - Gas-Engine Fuel LLC, a company engaged in the establishment of infrastructure for the development of the gas motor fuel market in the Russian Federation. On average throughout the country, automobile transport is responsible for approximately 44% of overall pollution, reaching as high as 93% in major cities such as Moscow and St. Petersburg. Natural gas is a cleaner type of fuel compared to gasoline or diesel.
In the course of 2019, 28 new gas motor fuel infrastructure facilities were built or purchased. The transition to gas motor fuel will reduce the level of harmful atmospheric pollutants generated by the transport sector and thus allow city dwellers to breathe cleaner air. The company strategy envisages further expansion of the fueling station network to make gas motor fuel more accessible for consumers.
Preservation of our planet’s biodiversity is one of the most significant aspects of sustainable development.
In 2014, Gazprombank committed to an unusual pet: Berry, a female Far Eastern leopard that lives in the Land of the Leopard reserve in the Primorye Territory, home to ninety percent of the Far Eastern leopard population.
In June 2015, Gazprombank started issuing its Leopardess Berry Cards featuring this remarkable animal. The Bank transfers 1% of every purchase made using the Leopardess Berry Visa Card to the Social Responsibility Charity Fund, for subsequent spending on Berry’s sustenance. The primary goal of this program is to preserve the population of the Far Eastern leopard and help create conditions in which it can thrive.
Initiatives
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