Vasily Vysokov, Chairman of Center-invest Bank’s Board of Directors, Professor and Doctor of Economics, spoke at the International Forum Russia 2030 and the New Global Economic Order: Key Factors and the Role of Business. The event was held at the venue of the Russian Union of Industrialists and Entrepreneurs as part of the Russian Business Week.
Professor Vysokov shared with the participants the principles of the bank’s business model, which demonstrates sustainable financial and non-financial performance and helps to build long-term good faith relationships with customers and partners in the new economic environment.
«Economics of transformations means constant challenges in the midst of continuous crises. The transition to a multipolar world will not be a broad highway. Russian business will have to climb narrow stony paths, like Suvorov crossing the Alps, and it is necessary to use every chance to strengthen its sovereignty and its global competitiveness,» says Professor Vysokov.
The experience of Center-invest Bank demonstrates the opportunities and prospects for building a new economic order in Russia based on global competitiveness and responsibility. Center-invest Bank has been a pioneer in the transition to sustainability and ESG banking and has proven by experience: sovereign ESG banking expands the range and horizon of risks taken into account*.
40% of the bank’s own energy consumption comes from renewable sources, energy efficiency lending has reduced CO2 emissions equivalent to 10 million trees planted. The bank participates in social projects for veterans, schoolchildren and students. The birth rate among the bank employees is 4 times higher than the national average. Moreover, the bank shows stable financial results: over the last three years the bank’s profit has steadily increased by 3.5 times while maintaining low interest rates on loans and no additional commissions for the customers. The quality of the Center-invest Bank’s loan portfolio is 2.5 times higher than for all banks.
Center-invest Bank assesses the carbon footprint of its mortgage and agribusiness lending. The Bank has introduced ESG rating for SMEs, which enhances business advantages in the national market and in international contracting.
The Bank publishes its financial statements and ESG reports in Russian, English and, from 2022, Chinese. Center-invest Bank reports under national standards, IFRS standards, Sustainable Development Goal indicators and Russia’s National Projects indicators.
The Bank participates in business development in southern Russia and actively shares experience: it presents the results of its work in the programmes of the Russian Union of Industrialists and Entrepreneurs (RUIE), participates in joint events with colleagues from the EAEU, CIS, the Association of Banks of Russia in Greater Eurasia and B20. The experience of Center-invest Bank was presented at the Russian-Chinese business forum in Shanghai within the framework of the Eurasian Congress, in the work of the RUIE Committee on Corporate Social Responsibility and Sustainable Development, and in the programme for financing EAEU industrial cooperation projects.
* https://asros.ru/news/opinions/kakie-konkurentnye-preimushchestva-daet-suverennyy-esg-banking/