Sovcombank launched an ESG deposit for corporate clients

Sovcombank presented a new product for corporate clients – a deposit associated with the goals of sustainable development or an ESG deposit. The first depositor was the Metallurgical Combine “Evraz NTMK” (enters the “Evraz”), which posted funds on the first ESG deposit in Sovcombank. About this “Lente.ru” reported in the press service of the bank.

Cash placed on the ESG deposit will be aimed at financing projects related to the UN objectives in the field of sustainable development, transformational, green and social projects. In its taxonomy, the Bank adheres to standards developed by WEB.RF and approved by the Government of the Russian Federation (green and adaptation projects), as well as criteria developed by ICMA and LMA (Green Projects, Social Projects).

“The bank continues to actively develop product line for responsible funding and investment, the rates on which are tied to sustainable development goals. The new ESG deposit corresponding to national and international standards will allow you to support the ESG strategies of our corporate clients and will contribute to the transition To a clean, energy-efficient and environmentally sustainable economy of our country, “said the Deputy Chairman of the Board, the head of the corporate and investment business of Sovcombank Mikhail Autukhov.

In 2019, Sovcombank was first among Russian banks “Principles of Responsible Banking Activities” Financial Initiatives of the United Nations Environment Program (UNEP FI), confirming its commitment to the principles of sustainable development and corporate social responsibility. In its sustainable development report for 2020, Sovcombank published strategic ESG-goals, including to achieve zero greenhouse gas emissions from its own activity until 2030.

/Media reports.