MKB has published its assured Sustainability report for 2020



Credit Bank of Moscow has published its Deloitte-assured, GRI[1]-compliant Sustainability report for 2020.

MKB's key results for 2020 are: a debut ESG-linked loan from LBBW, co-arrangement of the first-in-Russia issue of perpetual "green" bonds and social Eurobonds, and the launch of structural ESG transformation.

Furthermore, the bank showed good environmental performance: its consumption of fuel & energy reduced by more than 40% yoy, of cold and hot water by more than 50% yoy, and has been decreasing generally since 2017. The Bank implemented waste sorting and delivered more than 20 tons of e-waste (old ATMs and payment terminals) for eco-friendly disposal.

MKB proceeded with digitisation and innovations: it implemented the AI-based customer data reading technology Smart IDReader and launched a few initiatives to migrate from paper-based to electronic document flows.

In 2020 the bank continued to be actively involved in voluntary S&E initiatives. It supported WWF Russia's newly-launched nectar-producing forest conservation project in the Amur tiger range, launched a joint promotion with the environmental fintech project Trashback, supported a new charitable programme Chance, and installed contactless ticketing terminals for Moscow Zoo.

"The ESG agenda is becoming increasingly present in our everyday life. And we gladly note that our bank, together with its customers and partners, continues, step by step, to undergo ESG transformation, reduce its consumption of natural resources, and disclose more fully our sustainable development efforts for the general public and the business community," commented Julia Titova, First Vice President.


[1] GRI (The Global Reporting Initiative) is an international independent standards organisation that helps governments, businesses and the public understand and communicate their impacts on issues such as climate change, human rights, etc.