Sovcombank Becomes a Founding Signatory of the United Nations Principles for Responsible Banking

MOSCOW, Sept. 25, 2019 /PRNewswire/ -- Sovcombank becomes the first Russian bank to become a Founding Signatory of the UNEP FI Principles for Responsible Banking, committing to strategically align its business with the Sustainable Development Goals and the Paris Agreement on Climate Change.  

The Principles for Responsible Banking provide the framework for a sustainable banking system in which a bank's business strategy is aligned with society's goals, and guide banks in demonstrating how they are making a positive contribution to society – an increasing expectation of their customers, clients, employees and investors, as well as society-at-large.

130 world's large banks and over 45 CEOs, including Dmitry Gusev, the CEO of Sovcombank, launched the Principles at a high-level event at the United Nations General Assembly.

Dmitry Gusev, the CEO of Sovcombank:

"For Sovcombank, value creation means a delicate balance of the long-term sustainable returns to our shareholders, provision of good living for our employees, great banking services to our clients and contribution to the community and the nation.

"We are delighted to be the first Russian bank to join the Principles for Responsible Banking initiative. We are establishing our sustainability strategy that would support the bank's role as important part of the country's financial infrastructure and our ambition to help bring better future to our customers."

Sovcombank has been one of the first banks on the Russian market to incorporate environmental and social governance ("ESG") principles into its core business strategy. Joining UNEP FI crystalizes the commitment to sustainable development and corporate social responsibility and reflects the intention to adopt the best practices. This partnership will allow Sovcombank to promote sustainable banking and its role in Russian society.

About the Principles for Responsible Banking

The Principles for Responsible Banking were developed by a core group of 30 Founding Banks through an innovative global partnership between banks and the UNEP Finance Initiative (UNEP FI). UNEP FI is the UN-private sector collaboration that includes membership of more than 240 finance institutions around the globe.

More information about the Principles for Responsible Banking, including infographics and videos available here: https://www.unepfi.org/banking/bankingprinciples/

SOURCE Sovcombank