Center-invest Bank was rated ESG-AA, level ESG-2 by ACRA. This is the highest ACRA rating among rated banks confirming a successful implementation of sustainable development, environmental, social responsibility and governance strategy.
Center-invest Bank is the first Russian bank rated according to the updated ACRA methodology taking into account the regulator requirements and the market best practices. The final EST rating is a balanced evaluation of quantitative and qualitative indicators in three areas: Environment, Social Responsibility and Governance.
In the Environment area, according to ACRA, Center-invest Bank practices are of a very high level and correspond to the best global and national standards. The bank offers several «green» products, including «green» mortgage for individuals and legal entities, «green» deposit (all depositor funds are used only in projects supporting UN SDGs and goals of national projects), and loans for projects aimed at increasing energy efficiency.
Center-invest Bank is one of the first banks in Russia to include evaluation of customer and project consistency with the environmental requirements in its procedures, implement continuous monitoring of environmental and climate risks, and the first financial organization in Russia to issue «green» bonds in the Sustainable Development sector on the Moscow Exchange. The bank developed and approved an exclusive list of industries and a list of priority «green» projects corresponding to the national taxonomy criteria.
In the Social Responsibility area, Center-invest Bank also complies with the best global ESG practices: it has developed detailed documents on human rights and business ethics. The bank pays attention to the human resource management: it has established a talent agenda and strategical cooperation agreements with the major universities in the South of Russia.
Center-invest Bank participates in the state programs aimed at the increased availability of financial products and offers special reduced loan rates for socially disadvantaged groups.
Center-invest bank cares for the development of favorable working conditions for its employees: it offers a VHI program and training program for all employees. The bank has developed documents on the management of all social risks, including: Corporate Code of Ethics, Sustainable Development Partnership Code, Environmental Policy, Social Responsibility Policy.
In the Corporate Governance area, ACRA highly appraised the bank’s ESG factors integration in the loan analysis of borrowers and financed projects, as well as the experience and knowledge of Board members in the ESG Commitee in the field of Environment and Social Responsibility. According to ACRA, the bank has thoroughly developed internal documents and established cooperation of all departments responsible for compliance, internal audit and risk management services with the Board; the bank has established a policy for affiliate transactions and public dividend policy.
Center-invest Bank is building a systematic approach to work with stakeholders and expert community in Sustainable Development, working internationally with GABV1 and UNEP FI2 and has an established partnership with Scientific and Educational Center to establish an ESG expert assessment center.
1 Global Alliance for Banking on Values is an independent association of ’values-based banks’ with a shared mission to use finance to deliver environmental, social, and corporate governance (ESG) positive outcomes
2 United Nations Environment Programme Finance Initiative is a UN Environment finance initiative