Sber Discusses Forming the National ESG Alliance with Leading Russian Companies

MOSCOW  , Dec. 1, 2021 /PRNewswire/ -- The first conference dedicated to establishing the National ESG Alliance has culminated with signing an agreement to work together on creating the Alliance.

Top managers of the following companies joined Sber at the meeting: Avtoban, AFK Sistema, Gazprom Neft, EuroChem, Kolmar Group, Metalloinvest, Uralchem, Polyus, Prosveshcheniye, RUSAL, R-Pharm, SIBUR Holding, Solar Systems, SUEK, T Plus,  TechnoNICOL, Transmashholding, Delo holding company, Uralkali, Pharmstandard, Unilever Rus, En+ Group, Eurasian Resources Group (ERG), Mercury Retail Holding, PLC O1 Properties, Vos'hod Development, X5 Group.

The Alliance will aim to facilitate the transition to sustainable economic development by strengthening environmental protection, supporting social development, and enabling business growth while reducing the consumption of natural resources. This will be achieved through commitment, collaboration, and partnership of all the parties involved.  

The National ESG Alliance was conceived as a permanent platform for dialogue and engagement for all stakeholders. This will include knowledge sharing between the business community; the government and society; developing and promoting of new ESG standards, including industry guidelines; devising common assessment and reporting frameworks; developing transformative partnerships; joining forces in the implementation of programs for achieving sustainable development goals; and facilitating investment support for breakthrough projects aimed at ESG transformation.

Originally, the proposal to set up an Alliance to combine the efforts of leading companies in the ESG transition was discussed at the Eastern Economic Forum in Vladivostok in September 2021. It was actively supported by representatives of leading Russian and international companies.

Sber CEO and Chairman of the Sberbank Executive Board Herman Gref said:

"As we discussed the issues of corporate social responsibility, transparent and impactful corporate governance and environmental protection, we came to understanding that leading companies needed to combine their efforts to drive this agenda in the country.

We realized that we had to work on shaping regulatory frameworks, standards, and implementation control procedures, forming a new legislation that will stimulate all market participants to comply with ESG standards, and promoting the interests of Russia and Russian companies internationally.

These are the key objectives that form the core of the ESG Alliance's charter.

The founding members of the Alliance currently include 28 companies, which are responsible for 10% of the Russian GDP and represent over 18 sectors of the Russian economy. Membership in the Alliance is voluntary, and we encourage other companies to join it. I believe this initiative may lead to a useful and effective solution to promoting ESG agenda in Russia."