Aleksandr Dolganov, Deputy Chairman of Center-invest Bank’s Executive Board, has joined the Russian State Duma working group responsible for the legislative and regulatory framework to support the creation of a standardisation and verification system for green financial instruments.

One of the working group’s immediate tasks is to establish new standards and norms to assess financial instruments for sustainable development. The financial sector and investment institutions are key drivers for achieving the vital social and environmental objectives set out in Russia’s National Projects and the United Nations Sustainable Development Goals.

Aleksandr Dolganov has extensive experience of working in sustainable finance. He was actively involved in establishing the regulatory basis for Russia’s first green bond issue, launched by Center-invest Bank in November 2019.

Center-invest Bank began providing green loans in 2005, financing energy efficiency projects for small business, retail customers, and homeowner associations in Russia. Since the programme began, energy efficiency lending has exceeded RUB17bn (20,700 projects). Our loan programme has resulted in an annual reduction in CO2 emissions of more than 200,000 tonnes (equivalent to planting 8.1m trees a year).

In spring 2020 Center-invest Bank introduced a new "Green" deposit account, which is unique in Russia. The bank will report annually on how all the funds raised have been used to help achieve the Sustainable Development Goals and the National Projects.

Responsible finance is a global trend. Center-invest Bank has an ESG-banking business model, and readily shares its experience with colleagues from Russia and abroad.