MKB is first Russian bank to develop public integrated management system policy in implementation of its ESG road map
11.03.2021
The Supervisory Board of Credit Bank of Moscow (MKB) has designated the development and implementation of the Bank's integrated management system in the field of environmental and social protection, occupational health and safety, energy efficiency and energy saving (the "IMS") as one of its priority areas for 2021.
The IMS is a set of interrelated and interacting elements of an organisation to establish policies and objectives and processes to achieve those objectives. Its implementation requires reengineering of the bank's existing business processes and development of procedures, manuals and other documents intended to manage its impacts, direct and indirect (through products and services), assess its non-financial risks, analyse its performance in sustainable development and constantly improve its productivity.
The IMS is developed and implemented in accordance with ISO 14001:2015, ISO 50001:2018, ISO 45001:2018 and with the support of the Sustainable Development Division created last November as MKB's centre of internal expertise.
The bank's first IMS document is the integrated management system policy in the field of environmental and social protection, occupational health and safety, energy efficiency and energy saving. The policy outlines MKB's sustainable development intentions and areas officially formulated by its senior management, is aligned with its strategic direction and context of development, provides the framework for setting its objectives and targets in the field of environmental and social protection, occupational health and safety, energy efficiency and energy saving, and shall be taken into account in preparing its development programmes. The responsibility for implementing, monitoring and updating the policy lies with the Chairman of the Management Board.
MKB is the first Russian bank to announce the launch of the development and implementation of an IMS and to formulate a public integrated management system policy as regards environmental and social protection, occupational health and safety, energy efficiency and energy saving matters.
"The practice of implementing an IMS in accordance with ISO has long become common among responsible international and Russian production companies. We believe the time has come for the banking sector to follow their lead. Implementing an IMS makes managerial processes more congruent and transparent, ensures adequate regulation and systemic approach, and reduces workload. We see it not only as a tool to enhance our investment attractiveness and become more credible for our investors and customers, but also as an effective way to make our business more sustainable," commented Vladimir Chubar, Chairman of the Management Board.