MKB has disclosed an extended version of its Sustainability Strategy for 2021 –2023
No one can plan and shape a sustainable future without a clearly defined strategic reference frame. Today, Credit Bank of Moscow (MKB) has published, among the first Russian banks to do so, an extended version of its Sustainable Development Strategy.
The Strategy is a high-level document setting out a sustainable development reference frame, medium-term goals and key performance indicators for the next 3 years.
Adhering to international principles of sustainable banking, MKB has decided to focus on the following ESG strategic areas:
- management of direct impact;
- management of indirect impact;
- voluntary initiatives;
- stakeholder engagement and transparency.
The goals and indicators approved for 2021–2023 cover all banking-related environmental aspects: rational water consumption, waste management, climate conservation and reduction of energy consumption; and social aspects: sustainability trainings, employee engagement and satisfaction.
The strategy also reflects the comprehensive undertaking to develop and certify integrated management system in the field of environmental and social protection, occupational health and safety, energy efficiency and energy saving (IMS), which was already approved by the Supervisory Board as one of the bank's priorities, and highlights MKB's ambition to expand its portfolio of sustainable projects. The strategy has been formulated by experts of the Sustainable Development Division in consultation with, and with support of, all key subdivisions of the bank.
"The commitment to sustainability principles is a cornerstone of the solid basis on which MKB's strategy is built. A professional team, well-arranged infrastructure, support of ESG-initiatives by both senior management and staff, an ambition for innovative solutions – all this is reflected in our achievements and allows MKB to be one of the sustainable financing leaders in the Russian market. We are confident that the chosen sustainability strategy will enable MKB not only to overcome external challenges and underpin our competitiveness, but also to contribute more to a better future for new generations," commented Vladimir Chubar, Chairman of the Management Board.