Analytical credit rating agency assigned Sber an ESG-AA rating
The Analytical Credit Rating Agency (ACRA) has assigned Sber an ESG-AA rating at the ESG-2 level. Sber’s press service reported this to Lenta.ru.
A rating of this level is the highest among those assigned by ACRA on the Russian market. It means that Sber pays increased attention to environmental issues, social responsibility and corporate governance.
The agency noted that the bank distinguished itself with policies, procedures and measurable performance indicators in the area of managing key industry ESG risks, a high level of compliance with best practices, as well as the presence in the portfolio structure of loans provided for the implementation of green, adaptation and social projects.
ACRA highly appreciated the expansion of the range of online and digital services, support for federal and regional environmental projects, and the implementation of its own environmental programs. The agency drew attention to the availability of preferential products for vulnerable and special categories of clients, contribution to the development of the social sphere in the regions of presence, and 100% coverage of employee training.
“The integration of the agenda into business processes at Sber is at a very high level: 95 percent of ESG factors included in the assessment correspond to the best global practices,” said Tatyana Zavyalova, Senior Vice President for ESG at Sberbank. According to her, this year a large number of new criteria for the social component have been added to the rating: for example, the availability of specialized financial products and services, employee coverage by the VHI program, and cooperation with universities. “Sber demonstrated full compliance with them and received high marks. We will continue to move in this direction, improving our practices for the sustainable development of the country, for the benefit of each of its residents. This is the basis of our new human-centered strategy,” she said.
The bank received the maximum score for the corporate governance, cybersecurity and personal data protection block. Sber’s best corporate governance practices were recognized as the high profile experience of collegial bodies, open interaction with investors and stakeholders, as well as an effective corporate governance strategy.
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