/PRNewswire/ S&P Global Ratings said today that it has assigned Sber an ESG Evaluation of 67. The group s ESG Evaluation is the result of an ESG profile of.
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ESG has a new fan. The early weeks of 2021 have seen the Russian banking sector show love for the ethical investment philosophy that is slowly transforming the global financial sector.
In late January, Russia s largest bank, Sberbank of Russia, signed up to the United Nations principles for responsible banking. The announcement coincided with the completion of a $300 million social eurobond issuance by PJSC Sovcombank, Russia s first signatory to the UN initiative in 2019.
Days later, the Association of Banks of Russia announced that it had approved recommendations for the implementation of environmental, social and governance principles by local lenders. And in the most recent nod to the advance of ESG, Central Bank of Russia Governor Elvira Nabiullina highlighted its importance, stressing that it constitutes a serious challenge for the Russian economy, its financial system and the regulator itself, which is working on rules for verifying ESG financial
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