MKB to support FGC UES, PJSC in preparing its ESG report
Credit Bank of Moscow (MKB) has won one more tender for ESG services and will assist FGC UES, PJSC in preparing its report on social responsibility and corporate sustainable development.
The report is to be based on the GRI standards and best global practices and experience of public companies, both Russian and foreign. MKB will also advise FGC UES regarding the independent assurance of the reporting and the public hearings.
"We are glad to see businesses getting increasingly engaged in the sustainable development agenda, because ESG transformation concerns each and every sector of the Russian economy. Our bank, who has a vast experience and expertise of its own, is ready to provide various kinds of ESG advisory support to our partners and new customers. Soon the cost of funding offered by banks to their customers will depend on progress towards the sustainable development, so already today it is important for companies to adopt such practices as non-financial reporting, S&E management systems, and integrated management systems," commented Julia Titova, First Vice President of MKB.
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.