Center-invest Bank has published an Environmental Report for 2019, disclosing information about how it has used the funds raised from Russia’s first issue of green bank bonds.

The 2019 Environmental Report discloses information about the environmental and social criteria applied by the bank when assessing loan applications, its methods to monitor borrowers’ environmental activities, the bank’s own energy consumption, the purposes for which it has used the funds raised from Russia’s first issue of green bank bonds, and also the overall impact of these investments on sustainability indicators.

Center-invest Bank is committed to environmental protection, including through the efficient use of resources (electricity, paper and fuel etc). Its team works hard on developing electronic and remote services, and the bank also supports and participates in local environmental initiatives.

The bank is particularly interested in projects that have components designed to address priority environmental and social issues in southern Russia.

Center-invest Bank has been contributing to environmental protection in Russia since it launched its energy efficiency loan programme in 2005. For over 15 years, the bank has been providing businesses and retail customers with loans for the introduction of modern energy efficiency technologies and to upgrade outdated equipment. Since the programme began, the bank has invested over RUB17.4bn in 21,000 customer projects.

Center-invest Bank’s experience is a vivid example of the successful implementation of an ESG banking business model in Russia. In 2019 the bank became a member of the Global Alliance for Banking on Values (GABV). It also became a signatory to the Principles for Responsible Banking of the United Nations Environment Programme Finance Initiative (UNEP FI), which brings together leading financial institutions from around the world.

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.

The full text of Center-invest Bank’s 2019 Environmental Report has been published on the website of the Interfax independent news agency, and also on the bank’s website.