Center-invest Bank became a finalist in the first Green Eurasia international climate competition and won 2nd place in the Green Finance category.

The award ceremony was held as part of the programme of the II Eurasian Economic Forum organised by the Eurasian Economic Commission and the Agency for Strategic Initiatives to Promote New Projects Autonomous Non-commercial Organisation.

Center-invest Bank presented its successful experience in implementing green and sustainable financing projects for the competition. Center-invest Bank has been financing energy efficiency projects since 2005. The bank was the first in the country to place green bonds in the Sustainability Sector of the Moscow Exchange, guaranteeing the intended use of investors’ funds and reducing the negative impact on the environment. The funds raised through the bonds were allocated to energy efficiency projects for the bank’s customers.

To date, more than 23,600 energy efficiency projects worth 21.7 billion roubles have been funded from various sources. The environmental impact of these projects is equivalent to reducing CO2 emissions by 260,000 tonnes, or planting 10.4 million trees. The issuance of exchange-traded green bonds worth a total of 550 million roubles enabled CO2 emissions to be reduced by 11,000 tonnes, equivalent to 31,400 barrels of oil burned or the annual emissions of 6,400 cars.

The competition jury praised the bank’s leadership and expertise in creating a taxonomy for financing green and social projects, as well as building an ecosystem of private investors and businesses to implement sustainable development projects.