Expert RA awarded the ICD a rating in the field of sustainable development at the level of ESG-II

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AK&M 25 November 2021 17:39

On November 25, 2021, the Expert RA rating agency assigned a rating to the Moscow Credit Bank (ICB) at the ESG-II level, which means a very high level of compliance with interests in the field of sustainable development when making key decisions. The rating forecast is stable. This is stated in the bank's message.

The agency's analysts note that the ICD regularly implements measures to reduce waste generation, reduces energy consumption, and actively switches to electronic document management. The Bank keeps records of its own greenhouse gas emissions, the volume of which decreased by 40% in 2020.

The ICD conducts screening of clients, and when deciding on the provision of financing, pays special attention to compliance with social and environmental requirements during the implementation of the project. The Bank has developed its own taxonomy of sustainable financing, which contains a list of criteria for classifying projects as "green", "social", "sustainable" and "transitional". The ICD has committed itself not to support projects in industries excluded from the financing system of the European Bank for Reconstruction and Development (EBRD).

The Agency positively assesses the high degree of information openness: the bank publishes on its corporate website audited financial statements, an annual report, a report on sustainable development activities according to GRI standards, a socio-environmental report on the "Equator Principles", as well as a significant amount of information that is not subject to mandatory disclosure.

Credit Bank of Moscow (MKB, TIN 7734202860) was founded in 1992. The ultimate beneficiary of the bank is the founder of the Rossium concern, the president of the bank Roman Avdeev.